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 – marking a new golden age of nuclear in the
UK.
Today (Tuesday 10 June) Great British Energy – Nuclear is taking
on a new name from Great British Nuclear, reflecting its joint
mission with Great British Energy to rollout clean homegrown
power as two publicly-owned energy companies.
As part of the government's modern Industrial Strategy to revive
Britain's industrial heartlands, the government is pledging over
£2.5 billion for the overall small modular reactor programme in
this Spending Review period – with this project potentially
supporting up to 3,000 new skilled jobs and powering the
equivalent of around 3 million homes with clean, secure homegrown
energy.
The biggest nuclear rollout for a generation will support the
clean power mission – boosting energy security and protecting
families' finances. Great British Energy - Nuclear is aiming
to sign contracts with Rolls-Royce SMR later this year and will
form a development company.
Great British Energy - Nuclear will also aim to allocate a site
later this year and connect projects to the grid in the
mid-2030s. Once small modular reactors and Sizewell C come
online in the 2030s, combined with the new station at Hinkley
Point C, this will deliver more nuclear to the grid than over the
previous half century.
“SMRs” are smaller and quicker to build than traditional nuclear
plants, with costs likely to come down as units are rolled
out. The outcome of this competition is the first step
towards reducing costs and unlocking private finance, enabling
the UK to realise its long-term ambition of delivering one of
Europe's first small modular reactor fleets. It comes after
the government announced plans to shake up the planning rules to
make it easier to build nuclear, including small modular reactors
across the country.
Energy Secretary said:
“We are ending the no-nuclear status quo as part of our Plan for
Change and are entering a golden age of nuclear with the biggest
building programme in a generation.
“Great British Energy - Nuclear has run a rigorous competition
and will now work with the preferred bidder Rolls-Royce SMR to
build the country's first ever small modular reactors – creating
thousands of jobs and growing our regional economies while
strengthening our energy security.”
Chancellor of the Exchequer, , 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.”
Simon Bowen, Chairman of Great British Energy – Nuclear
said:
“This announcement is a defining moment for the UK's energy and
industrial future.
“By selecting a preferred bidder, we are taking a decisive step
toward delivering clean, secure, and sovereign power. This is
about more than energy—it's about revitalising British industry,
creating thousands of skilled jobs, and building a platform for
long-term economic growth.”
Gwen Parry-Jones, CEO of Great British Energy - Nuclear,
said:
“We are proud to lead this national mission. Nuclear is the
cornerstone of the UK's energy strategy, and today's announcement
will accelerate deployment.
“Together with Rolls-Royce SMR, our selected preferred bidder,
and subject to government approvals and contract signature, we
will deliver a programme that is technically world-class and
delivers real value to the British people—through energy
security, economic opportunity, and environmental
leadership.”
The global SMR market is, according to the International Energy
Agency, projected to reach up to nearly £500 billion by 2050, and
today's announcement puts Britain at a competitive advantage as a
frontrunner in the global race to build new nuclear
technology.
The selection follows a rigorous and transparent procurement
process over two years, with the competition having launched in
July 2023. Subject to final approvals and contract signature,
Rolls-Royce SMR Ltd will enter a strategic technology development
partnership with Great British Energy - Nuclear – a fully
publicly-owned company.
Rolls-Royce SMR is progressing through the final stage of the
assessment by the UK nuclear industry's independent regulators.
ENDS
Notes to editors
- As it moves to its delivery phase, Great British Nuclear is
being renamed to Great British Energy – Nuclear, an allied
company to Great British Energy. Two separate publicly-owned
energy companies with a shared mission - providing a clear signal
at home and on the world stage that from SMRs to floating
offshore wind, Britain is determined to win the race for the
industries of the future.
- In its founding statement, the government confirmed it would
explore how Great British Energy and Great British Nuclear can
best work together [link].The first call
for evidence on SMRs was launched a decade ago in 2015 under a
previous government.