Rolls-Royce SMR has been selected as the preferred bidder to partner with Great British Energy – Nuclear to develop small modular reactors, subject to final government approvals and contract signature.
Great British Energy – Nuclear is aiming to sign contracts with Rolls-Royce SMR later this year and will form a development company. It will aim to allocate a site later this year and connect projects to the grid in the mid-2030s.
The government has promised over £2.5 billion for the overall small modular reactor programme in this Spending Review period. It hopes that the outcome of the competition is the first step towards reducing costs and unlocking private finance. It comes after the government announced plans to shake up the planning rules to make it easier to build nuclear, including SMRs.
Chancellor of the Exchequer, Rachel Reeves, said: “The UK is back where it belongs, taking the lead in the technologies of tomorrow with Rolls-Royce SMR as the preferred partner for this journey.
“We’re backing Britain with Great British Energy – Nuclear’s ambition to ensure 70% of supply chain products are British built, delivering our Plan for Change through more jobs and putting more money in people’s pockets.”
The selection follows a two-year procurement process.
Rolls-Royce SMR is progressing through the final stage of the assessment by the UK nuclear industry’s Office of Nuclear Regulation.