The deal with publicly-owned Great British Energy – Nuclear comes after a two-year selection process and will see the creation of a new development company to bring the reactors to market, pending final government approvals and contract signing.
The landmark decision is a big boost for BAM Nuttall, Laing O’Rourke and Atkins which are part of the Rolls-Royce-led consortium developing its SMR design.
Rolls-Royce SMR will build three SMR units in the UK, each generating enough electricity to power 1m homes.
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At its peak, the project could support up to 3,000 construction jobs. The first SMR is expected to be on the grid by the mid-2030s.
The move forms a key part of the government’s £2.5bn investment in the SMR programme under its Plan for Change strategy to drive clean energy growth.
The newly rebranded Great British Energy – Nuclear will allocate the first reactor site later this year. The eventual rollout, combined with Hinkley Point C and Sizewell C, is expected to deliver more nuclear power in the 2030s than in the last 50 years combined.
Energy secretary Ed Miliband said: “We are ending the no-nuclear status quo and are entering a golden age of nuclear with the biggest building programme in a generation.”
440MW commercial reactor design
Rolls-Royce SMRs are expected to be faster and cheaper to deliver than traditional plants, with a production-line approach aimed at cutting costs and attracting private investment.
The global market for SMRs could hit £500bn by 2050, putting the UK in prime position to export expertise and technology developed under this first wave of construction.
