MINI-NUKE PLANTS BOOSTED BY NEW VENTURE

PROSPECTS for Small Modular Reactors in North Wales took a step forward as a new venture was formed.

Rolls-Royce Small Modular Reactor (SMR) business has been established to bring forward and deliver at scale the next generation of nuclear power technology.

Rolls-Royce Group, BNF Resources UK Limited and Exelon Generation Limited will invest £195m across a period of around three years.

The funding will enable the business to secure grant funding of £210 million from UK Research and Innovation funding.

No sites were named yesterday but Wylfa on Anglesey and Trawsfynydd in Gwynedd have been tipped as ideal locations for the mini nuclear power stations.

The business, which will continue to seek further investment, will now proceed rapidly with a range of parallel delivery activities, including entry to the UK Generic Design Assessment (GDA) process and identifying sites for the factories which will manufacture the modules that enable on-site assembly of the power plants.

Discussions will also continue with the UK Government on identifying the delivery models that will enable long-term investment in the technology.

Warren East, RollsRoyce CEO , said: “With the Rolls-Royce SMR technology, we have developed a clean energy solution which can deliver cost competitive and scalable net zero power for multiple applications from grid and industrial electricity production to hydrogen and synthetic fuel manufacturing. The business could create up to 40,000 jobs, through UK deployment and export enabled growth.”

Business and Energy Secretary Kwasi Kwarteng said: “This is a once in a lifetime opportunity for the UK to deploy more low carbon energy than ever before and ensure greater energy independence.”