UK Government Sees Future Energy Mix Involving Small Nuclear Reactors, But Financing Remains Obstacle

KEY POINTS

  • A  nine-member association of companies have pledged to build 16 small nuclear power stations by 2050
  • Each mini reactor would be in operation for up to 60 years and provide 440 megawatts of electricity per year
  • The program is expected to create 40,000 jobs.

The British government is considering investing 2 billion pounds sterling ($2.6 billion) to help build small nuclear reactors as part of London’s overall strategy of developing cleaner energy and achieving net-zero carbon emissions by 2050.

The financing program – details of which have yet to be finalized, Bloomberg reported – would involve the government buying an equity stake in various new small nuclear stations across the country. Smaller reactors, as the government envisions, may be a more economical strategy to build up nuclear power in the country.

Indeed, a nine-member consortium of companies, including Rolls-Royce Holdings Plc and construction giant Laing O’Rourke Plc, have

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