UK Research and Innovation has confirmed an initial investment of £18m in a programme to design a compact nuclear power station. Plans for a phalanx of mini nuclear reactors to be marched out across the UK took a step towards realisation this week, as UK Research and Innovation (UKRI) confirmed it has provided initial match funding to a consortium of companies designing the new power stations. UKRI’s initial investment of £18m will be matched by a group of nuclear, civil engineering, construction, and manufacturing firms, which has been working on a preliminary design for a compact nuclear power station for four years. The consortium ultimately aims to generate a joint investment of £500m focused on designing a first-of-its-kind small modular reactor, which would form the core of the new compact plants. The government hopes to have a working model of a compact nuclear plant up and running by the early 2030s. By 2050, a full programme of 16 power stations could create 40,000 jobs and add £52bn of value to the UK economy, the government added. Each of the new power stations are expected to generate 440MW of electricity, enough to power 750,000 homes.
Business Green 7th Nov 2019 read more »