The Prime Minister’s ten point plan for a green industrial revolution greenlights the UK Small Modular Reactor programme. The £215 million investment into small modular reactors (SMR) will be delivered through the Low Cost Nuclear (LCN) programme from 2021 onwards, as part of UK Research and Innovation (UKRI). UKRI launched the programme in November 2019 with an initial £18 million investment to develop a concept design, which was match funded by the UK SMR consortium, led by Rolls-Royce. This is the second investment from the Industrial Strategy Challenge Fund. The investment will accelerate the concept reactor design to a maturity sufficient to attract private investors and help establish the UK as an international leader in SMR manufacturing. This will create a significant boost to the UK nuclear industry. This significant investment will be boosted by a £300 million investment from industry partners. In return, the UK SMR programme will: return £52 billion of value to the UK economy by 2050 if a full fleet of 16 power stations is built; generate a £250 billion export market with job creation of up to 40,000 high-value jobs; rejuvenate UK manufacturing communities in the north of England and north Wales.
UK Research and Innovation 19th Nov 2020 read more »