Rolls-Royse SMR has officially been chosen as the preferred bidder to build the UK’s first small modular reactors
This decision came after a two-year competition to select the nuclear technology for deployment in the UK, with the hopes of generating clean energy through the publicly owned company.
The UK as a clean energy superpower
The project has the potential to support up to 3,000 jobs during peak construction and power approximately 3 million homes.
Rolls-Royce SMR has been chosen as the preferred bidder to collaborate with Great British Energy – Nuclear on the development of small modular reactors. This partnership is waiting on final government approvals and contract signatures, marking a new era for nuclear energy in the UK.
It was announced yesterday that Great British Energy – Nuclear will be rebranding from Great British Nuclear. This shows the joint effort with Great British Energy to deploy clean, homegrown power as two publicly owned energy companies.
Generating clean energy
As part of the government’s modern Industrial Strategy to revitalise Britain’s industrial heartlands, over £2.5 billion has been allocated for the small modular reactor programme during this Spending Review period. This initiative is expected to create up to 3,000 new skilled jobs and generate clean, secure energy for approximately 3 million homes.
The largest nuclear rollout in a generation is poised to enhance energy security and help protect families’ financial stability. Great British Energy – Nuclear aims to sign contracts with Rolls-Royce SMR later this year and will establish a development company as part of this effort.
Great British Energy – Nuclear plans to allocate a site later this year and connect projects to the grid by the mid-2030s. Once small modular reactors (SMRs) and Sizewell C come online in the 2030s, along with the new station at Hinkley Point C, the UK will have more nuclear power on the grid than it has seen in the previous fifty years.
SMRs are smaller and quicker to build than traditional nuclear plants, and costs are expected to decrease as more units are rolled out.
This competition marks the first step toward reducing costs and unlocking private financing, enabling the UK to achieve its long-term goal of establishing one of Europe’s first fleets of small modular reactors. This initiative follows the government’s announcement to reform planning rules, facilitating the construction of nuclear power plants, including small modular reactors, throughout the country.
The global small modular reactor (SMR) market
This selection follows a two-year procurement process that began in July 2023.
Waiting for final approvals and contract signatures, Rolls-Royce SMR Ltd will enter into a strategic technology development partnership with Great British Energy Nuclear, a fully publicly owned company.
Rolls-Royce SMR is currently progressing through the final stage of assessment by the independent regulators of the UK nuclear industry.
As it transitions into its delivery phase, Great British Nuclear is being renamed Great British Energy – Nuclear. This new name reflects its status as an allied company to Great British Energy. Together, these two separate, publicly owned energy companies share a mission to send a strong message both domestically and internationally.
