The deals between US and UK companies have been enabled by a new agreement between the US and UK governments, expected to be signed at the state visit this week. This will make it quicker for companies to build new nuclear power stations in both countries, for example by speeding up the time it takes for a nuclear project to get a licence from roughly three or four years to roughly two.
The deal clears the way for a major expansion of new nuclear projects in the UK, a sector which has already seen 11,000 new jobs this year following government-led investment, according to new statistics from the Nuclear Industry Association.
The expansion of nuclear power is central to the UK government’s clean energy superpower mission, as part of the UK’s drive to build more clean homegrown power to ensure energy security.
Building on existing UK and US collaboration including between Rolls-Royce and BWXT, the government has increased access to the market for both UK and US companies with new commercial deals to be announced this week:
- X-Energy and Centrica – plans to build up to 12 advanced modular reactors in Hartlepool, with a follow-on UK wide programme targeting a fleet of 6GW of nuclear power. According to the companies, the Hartlepool project would generate enough power for up to 1.5 million homes and create up to 2,500 good jobs. The companies estimate the overall programme could deliver at least £40 billion in economic value, with £12 billion in value focussed for the North East of England
- Holtec, EDF and Tritax – plans to develop advanced data centres powered by small modular reactors at the former Cottam coal-fired power station in Nottinghamshire. Holtec estimate the project value to be around £11 billion, and it is expected to create thousands of high-skilled construction jobs, as well as long-term roles in operations for the local community
- Last Energy and DP World – plans to establish one of the world’s first micro modular nuclear power plants, backed by £80 million in private investment, to unlock a clean power supply for the expansion of DP World’s London Gateway port and business park
- Urenco and Radiant – signs a deal, worth around four million, to supply advanced HALEU fuel to the US market. Urenco is building an Advanced Fuels Facility in the UK co-funded with the UK Government and is exploring building a similar facility in the US
- TerraPower and KBR – plans to conduct studies and evaluate sites in the UK for the deployment of the Natrium advanced reactor technology, with each Natrium reactor supporting around 1,600 construction jobs and 250 permanent jobs and delivering safe, reliable and flexible nuclear power paired with gigawatt-scale energy storage
The UK’s new ‘golden age’ of nuclear follows the announcement of the biggest build-out of new nuclear power in generations, including a multi-billion deal giving Sizewell C the green light. This is alongside the development of one of Europe’s first small modular reactor programmes, and record investment in fusion.
Prime Minister Keir Starmer said: “These major commitments set us well on course to a golden age of nuclear that will drive down household bills in the long run, while delivering thousands of good jobs in the short term.”
Energy Secretary Ed Miliband said: “We’re kickstarting a golden age of nuclear in this country, joining forces with the US to turbocharge new nuclear developments and secure the technologies of the future.”
U.S. Secretary of Energy Chris Wright said: “Today’s commercial deals set up a framework to unleash commercial access in both the U.S. and UK, enhancing global energy security, strengthening U.S. energy dominance, and securing nuclear supply chains across the Atlantic.”
