The government has launched a competition aimed at accelerating the development of nuclear power in the country.
The competition, led by Great British Nuclear (GBN), focuses on the advancement of small modular reactor (SMR) technology, which has the potential to attract significant public and private sector investments.
Unlike traditional reactors, SMRs are smaller and can be manufactured in factories, potentially leading to faster and more cost-effective construction of power plants.
The UK government has expressed its ongoing support for nuclear power, including major projects such as Hinkley Point C and Sizewell C.
In addition to the GBN competition launch, the government has announced a grant funding package of up to £157 million, aimed at accelerating advanced nuclear business development and further advancing advanced modular reactor (AMR) technology.
Energy Security Secretary Grant Shapps said: “Today, as we open Great British Nuclear and the competition to develop cutting-edge small modular reactor technology, which could result in billions of pounds of public and private sector investment, we are seeing the first brush strokes of our nuclear power renaissance to power up Britain and grow our economy for decades to come.”
