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10 Nov 20211 minute read

COP26: Gov't pledges £210m for mini-nuclear

ECAtoday
COP26: Gov't pledges £210m for mini-nuclear

Business Secretary Kwasi Kwarteng has announced £210 million in investment for small nuclear power reactors to be built in the UK.

Mr Kwarteng said the money, for developer Rolls-Royce, will be matched by at least £250m of private sector funding, and is a "once in a lifetime opportunity" for the UK. 

The announcement is part of the government's push to move away from fossil fuels as it works to meet its goal of Net Zero by 2050. 

Small modular reactors (SMRs) have the potential to be cheaper to build than traditional nuclear power plants because they are smaller so can be built in a factory then easily transported to a site.

The reactors could be in use by the early 2030s.

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