In December 2017 government announced the creation of the Expert Finance Working Group on Small Reactors to advise on how small nuclear reactor projects could raise investment in the UK. The group, chaired by Fiona Reilly (Executive Partner, Atlantic SuperConnection and a Non-executive Director of the Nuclear Industry Association), sets out in the report a series of recommendation on how government, the nuclear and the finance sector can work together to enable the advanced nuclear technologies market. These include: setting out a clear policy and market framework; integrating energy, nuclear and finance sector stakeholders; focusing on bringing first-of-a-kind (FOAK) projects to market; establishing an advanced manufacturing supply chain initiative; optimising the Generic Design Assessment (GDA) process; making sites available to FOAK small nuclear projects; setting out a new infrastructure fund.
BEIS 7th Aug 2018 read more »
Britain should offer developers of mini nuclear plants subsidies similar to those made available to the offshore wind industry, an independent review commissioned by the government said on Tuesday. The government has been investigating whether mini nuclear plans – so called small modular reactors (SMR) – could offer a solution, and whether the industry could help boost much needed exports as Britain leaves the European Union. The government “should establish an advanced manufacturing supply chain initiative (as it did with offshore wind) to bring forward existing and new manufacturing capability,” said the report by the Expert Finance Working Group on Small Nuclear Reactors. Government support for offshore wind has enabled that industry to drive down costs, and reduce subsidies.
Reuters 7th Aug 2018 read more »
Guardian 7th Aug 2018 read more »