LONDON (dpa-AFX) - Companies in the United States and UK have signed major new deals that will turbocharge the build-out of new nuclear power stations in both countries.
The deals come ahead of U.S. President Donald Trump's state visit to the UK this week, during which a new agreement between the two governments is expected to be signed.
This will make it quicker for companies to build new nuclear power stations in both countries. Subsequently, the time it takes for a nuclear project to get a licence will speed up 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.
Building on existing UK-US collaboration including between Rolls-Royce and BWXT, the UK government has increased access to the market for both UK and US companies with new major commercial deals to be announced this week.
X-Energy and Centrica plan to build up to 12 advanced modular reactors in Hartlepool, with a follow-on UK wide program targeting a fleet of 6GW of nuclear power, the UK Department for Energy Security and Net Zero said in a press release. 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 program could deliver at least £40 billion in economic value, with 12 billion pounds in value focused for the North East of England.
Holtec, EDF and Tritax plan to develop advanced data centers 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 pounds, 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 plan to establish one of the world's first micro modular nuclear power plants, backed by 80 million pounds 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 will sign a deal worth around 4 million pounds to supply advanced HALEU fuel to the U.S. 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 plan 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.
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