NNL welcomes this week’s announcement from Government of up to £18 million of funding for the creation of innovative mini nuclear stations which are smaller and less expensive to build than traditional nuclear plants. The funding goes to a consortium led by Rolls Royce, where NNL is one of the ten member organisations. We also welcome the Government’s proposals to explore the use of the Regulated Asset Base (RAB) approach to attract significant private investment for future nuclear power in the UK.
Both of these developments represent major steps forward in the potential development of new nuclear stations to help power the UK into the future.
NNL’s Chief Executive Officer, Dr Paul Howarth, commented:
“We welcome these important announcements on nuclear energy from Government, which come at a crucial time for the UK. As we approach our departure from the EU – and commit to a zero-carbon future – it’s more important than ever to consider the long term future of our nation’s energy needs and how those needs can be met in a way which is consistent with the objectives of both Clean Growth and Industrial Strategy. The important positive announcements from Government in relation to the contribution nuclear can – and must – make to our future energy portfolio will benefit the whole nuclear sector. We look forward to working closely with Government, industry, academia and others to help turn vision and ambition into reality.”