{"id":35010,"date":"2023-07-18T11:38:25","date_gmt":"2023-07-18T10:38:25","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=35010"},"modified":"2023-07-18T11:38:25","modified_gmt":"2023-07-18T10:38:25","slug":"gbn-ignites-rapid-expansion-plan-for-uk-nuclear-power-stations","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/gbn-ignites-rapid-expansion-plan-for-uk-nuclear-power-stations\/35010\/","title":{"rendered":"GBN ignites rapid expansion plan for UK nuclear power stations"},"content":{"rendered":"

Great British Nuclear (GBN) will fuel the rapid development of UK nuclear power stations, adding an estimated \u00a36bn to the country\u2019s economy.<\/h2>\n

Announced today by Energy Security Secretary Grant Shapps, this \u2018revival\u2019 of UK nuclear power stations will help to deliver clean and affordable energy to consumers.<\/p>\n

The government plan to develop nuclear power stations in the UK at an unprecedented scale, reducing the nation\u2019s dependence on foreign fossil fuel imports and creating robust energy security.<\/p>\n

Companies can now apply for funding to fuel their nuclear projects, with the government opening a competition to pioneer small modular reactors (SMRs)<\/a>.<\/p>\n

Grant Shapps explained: \u201cBritain has a rich history as a pioneer of nuclear power, having launched the era of civil nuclear power – and I\u2019m proud to be turbocharging its revival and placing our country once again at the forefront of global innovation.<\/p>\n

\u201cBy rapidly boosting our homegrown supply of nuclear and other clean, reliable, and abundant energy, we will drive down bills for British homes and make sure the UK is never held to energy ransom by tyrants like Putin.<\/p>\n

\u201cToday, as we open Great British Nuclear and the competition to develop cutting-edge small modular reactor technology, which could result in billions of pounds of public and private sector investment, we are seeing the first brush strokes of our nuclear power renaissance to power up Britain and grow our economy for decades to come.\u201d<\/p>\n

How to secure funding for SMR projects<\/h3>\n

The UK Government has set the ambitious target of generating more than 25% of the country\u2019s electricity from homegrown nuclear energy by 2050.<\/p>\n

SMRs will be key to achieving this goal. SMRs, unlike regular nuclear reactors built on-site, are much smaller and can be manufactured in factories. They can potentially revolutionise how UK nuclear power stations are built by reducing development time and saving money.<\/p>\n

Companies can now register their interest in GBN\u2019s competition to secure what could be billions of pounds of public and private sector funding for their SMR projects.<\/p>\n

Andrew Bowie, the UK Minister for Nuclear, commented: \u201cAs long-standing pioneers of nuclear, today we\u2019re marking its UK revival with the opening of Great British Nuclear, which will play an essential role in transforming the way we power Britain from Britain.<\/p>\n

\u201cI look forward to seeing the world-class designs submitted from all around the world through the competitive selection process as the UK takes its place front and centre in the global race to unleash a new generation of nuclear technology.\u201d<\/p>\n

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\u00a9 shutterstock\/hlopex<\/figcaption><\/figure>\n

\u00a3157m grant funding package will drive the UK\u2019s nuclear sector<\/h3>\n

The government has also announced a grant funding package of up to \u00a3157m to boost the country\u2019s nuclear energy capabilities.<\/p>\n

Up to \u00a377.1m will be available for companies to accelerate advanced nuclear business development in the UK and support nuclear designs to enter UK regulation.<\/p>\n

A further \u00a358m has been allocated to advance the development and design of advanced modular reactors (AMRs) and next-generation fuel. Winning projects include:<\/p>\n