GOVERNMENT TO UNLOCK ADVANCED NUCLEAR TO GROW ECONOMY

LONDON, Feb. 4 -- The government of the United Kingdom issued the following news:

* Plans to speed up building ofpioneeringnuclear technology to power AI boom and grow economy with clean energy * Government to recognise most credibleadvanced nuclear projects to help unlock privateinvestmentand get projects off the ground * New nuclear projectscould create thousands of jobs across the country as part ofnuclear "golden age"

Britain could see some of the world's firstadvancednuclearpower stations powering factories and AI data centres,as part ofthe government's"golden age" of nuclearto supportjobs,drivegrowthand protect billpayers with homegrown clean energy.

The government is today (Wednesday 4 February)publishingafirst-of-its-kind framework which aims tostimulateprivateinvestmentininnovative nuclear technologies across the country,providingaclear route tomarketand support for credible projectsto get them off the ground.

* Advanced nuclear framework

Britain is one of the first to champion the development ofcutting-edge nuclear projects driven by the private sector, recently announcing major commercial deals between UK and US companies. This includesplans for X-Energy and Centrica to build 12 advanced modular reactors in Hartlepool, supporting 2,500 jobs,as well as plans for Holtec, EDF, and Tritax to build small modular reactorsat the former coal-fired power station Cottam in Nottinghamshire,providingclean, secure powertodata centres on the site. MeanwhileTerraPoweris workingwith engineering firm KBR to explore the potential deployment of its Natrium advanced reactor technology in the UK and beyond.

To speed up deployment of advanced nuclearand attract private investment, government is launching a "pipeline" ofcredibleprojects that meet essential readiness criteria.A "concierge-style" servicewillhelp developers understand requirements around UK planning,regulationand fuel,as well as enabling themto crowd-in private investment.

Advanced nuclear technologies - including advanced, small, and micro modular reactors - are manufactured in factories meaning they could be built quicker and at a lower cost, with skilled jobslocatedacross multiple regions.Theycan provide clean energy to the grid or directly to private industrial consumersto meetgrowing clean energy demand andhelpdecarbonise industry.

It followsthe biggest government investment in nuclear power for a generation, greenlighting Sizewell C in Suffolk and selectingWylfa in North Wales to host the country's first small modular reactors.

Minister forNuclear PatrickVallance said:

Advanced nucleartechnology could revolutionise how we power industry and propel the AI data centre boom- delivering more clean energyand jobs.

We are seizing the opportunity to become a frontrunner in this spaceas part of our golden age of nuclear,creating the conditions for the industry to flourish.

Lord Livermore, Financial Secretary to the Treasury, said:

This government is delivering the largest investment in nuclear power in a generation to create new jobs and to drive economic growth right across the UK.

The plans we have published today will provide investors with the long-term confidence they need to back advanced nuclear technologies here in Britain.

Developers canuse the Advanced Nuclear Framework tosubmitproposalsto join the pipelinefrom March this year, which will then beassessedbyexperts in government and Great British Energy-Nuclearaccording tokey criteria such as technology status, developer capability, andfinancing plans.

Successful applicants would receive inprinciple government endorsement. While they would be expected to be privately financed, it would alsoopen updiscussions on what support from thegovernment might be needed to help get projects off the ground, while providing value to the taxpayerand billpayer,including:

* revenue supportonce projects areoperational * risk protections forextremely rare eventstodevelopprojects withlittle riskfor the taxpayer

Additionally,projects can approach theNational Wealth Fund, who canact as a catalytic investor for projectsthat meet their investment criteria,and help derisk further private investment.

Advanced nuclear reactorsuse novel fuels and coolantssooperateat higher temperatures,which can provide excess heat for industrial processes in factoriesor data centres.Developers are aiming for their first AMRs to be operational in the UK by the mid-2030s.

The Nuclear Decommissioning Authority is releasing surplus land for clean energy projects with opportunities identified atChapelcrossinScotland, Pioneer Park in Cumbria, and Trawsfynydd in Wales.

The government is also publishing a Statement on Civil Nuclear Fuel Usewhichsets out the requirements for uranium-based fuelsused in civil nuclear reactors, providing clarity for the sector.It ensures alignment with nationalobjectivesfor energy security, environmental protection, and long-term spent fuel and waste management.

Neil Cooper,Chief Financial Officer at Great British Energy-Nuclear said:

Today's announcement is hugely positive for the nuclear industry in the UK and signals the start of a disciplined and transparent partnership between government and the private sector, built on evidence, not optimism. GBE‑N is ready to play its full part with objectivity and consistency, at pace.

OliverHolbourn, CEO at the National Wealth Fund, said:

Nuclear energy has a vital role in the UK's transition to reliable,cleanand secure energy. We want to supportviableprojects to accelerate progress, creating jobs, crowding in privatecapitaland boosting regional economic growth, in the process.

Jane Bowie, SMR Development Directorat EDF, said:

In the week we recognise the 50th anniversary of when the UK's first two AGR power stations started operations, EDF welcomes the government's advanced nuclear framework which will help develop a new generation of nuclear power projects.

EDF is working with US company Holtec on an exciting opportunity to develop their small modular reactor technology at the Cottam site in Nottinghamshire. We also welcome the interest of X Energy and Centrica in developing our Hartlepool site for Advanced Modular Reactors.

Government recognition and support for projects like these - alongside the UK-US nuclear partnership and reforms proposed in the recent Fingleton review on nuclear regulation - will help attract finance and increase the prospects of these projects moving forward.

Sue Ferns, SeniorDeputyGeneralSecretaryat Prospect, said:

New nuclear has a vital role to play in our future energy mix, providing secure clean energy that can meet domestic and industrial energy needs, while also supporting thousands ofgood qualityjobs.  

Next generation nuclear technology, like small and advanced modular reactors, provide an exciting opportunity to capitalise on the UK's nuclear heritage and lead the way in pioneeringnew approaches, so it is welcome that government is acting to accelerate development with this Framework.

Prospect will work with government and industry to ensure that the sector continues to create good, unionised jobs, and to develop the skilled workforce needed to power an expanded nuclear sector.

Chris O'Shea, Chief Executive at Centrica Group, said:

Today's framework could help turn intent into investment and plans into power, so Britain can build advanced nuclear faster, power the AI revolution with clean, homegrown energy, and create skilled jobs across the country.

Centrica is backing nuclear for the long term - from our 20% stake in the UK's existing fleet to our support for Sizewell C, where the recent capital raise brought in major global investors -clear evidencethat well designed nuclear projects attract serious international backing.

Now, with X energy, we're ready to deliver in Hartlepool - a project that will deploy multiple reactors that could support around 2,500 jobs and anchor new skills in the North East - turning momentum into projects on the ground, while working closely with government to finalise the details needed to move at pace.

Alistair Black, VicePresidentand UK Market Lead for X-energy said: 

This framework is a crucial step forward. It recognises the need to go further and faster with new nuclear to meet the country's energy and economic growth aspirations.

X-energy is deployingcutting edgeadvanced modular reactors in the US and we've been developing UK plans for several years, now in partnership with Centrica.  Visible government support for early projects here will unlock the private investment we know is waiting to support a UK fleet.We look forward to discussing the details.

Rick Springman, Holtec's President for Global Clean Energy Opportunities, said:

The UK Government's Advanced Nuclear Framework is a welcome step toward turning advanced nuclear ambition into delivery, particularly in support of energy security and economic growth.

Through this framework, Holtec will progress plans with EDF UK to deploy its SMR-300 at the Cottam site, delivering clean, reliable power. This project will directlybenefitfrom Holtec's SMR-300 deployment at Palisades in Michigan-the first of its kind in the United States. As a second-of-a-kind project, Cottam willleveragelessons learned to reduce risk, accelerate delivery, and support high-quality jobs in the UK.

Tom Greatrex, Chief Executive of the Nuclear Industry Association, said:

This framework provides welcome clarity and momentum for advanced nuclear projects in the UK. A clear process by which projects can get an in-principlegovernment endorsement is vital to unlocking private investment and giving developers the confidence to move from ambition to delivery. That will be essential to powering an industrial revival in Britain, creating good, skilled jobs and delivering clean, reliable power for industry and the wider economy.

Boris Schucht,CEO of Urenco, said:

Urenco welcomes the government's advanced nuclear framework and corresponding Statement on Civil Nuclear Fuel Usewhich demonstrate the UK's clear commitment to new nuclear and strengthening the nuclear fuel cycle.

As the demand for clean energy intensifies, the need for innovative nuclear solutions has never been more critical. Smaller, advanced reactors have the potential to be pivotal in decarbonising our economy. To reap these benefits, financing will be key, and we therefore applaud the government's efforts to help stimulate private investment. Furthermore, the Statement on Civil Nuclear FuelUseprovides long-term clarity for Urenco's existing nuclear fuel capabilities that underpin today's reactor fleet as well as advanced nuclear fuels for next generation technologies.

The government's publications show the UK's strategic leadership and provide confidence for the industry to continue to invest and innovate, helping to maintain the UK's position as a leader in safe, reliable nuclear fuel production.

Loren Jones, Senior Vice President, Energy & Environment - International at Amentum said:

Advanced nuclear technologies will be a strategic economic advantage for nations that embrace them now. As part of the new golden age of nuclear we welcome the government's framework and the opportunities for closer UK/US collaboration to accelerate the development of advanced nuclear energy.

Mick Gornall, Managing Director at Cavendish Nuclear, said:

This new framework is a major accelerator for clean energy deployment and a huge boost for the entire UK supply chain, giving greater confidence to invest in people, technology and capability. By recognising the most credible advanced nuclear projects and opening up new, flexible financing pathways, the Government is injecting real momentum into the UK's nuclear ambitions.

Disclaimer: Curated by HT Syndication.