Tag Archives: Nuclear

Nuclear start-up aims to raise £1bn for SMR plans

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UK-based nuclear start-up Newcleo is seeking to raise up to £1bn to fund plans to enter the lucrative small modular reactor (SMR) nuclear power plant market.

The firm, which was established in 2021 and has offices in the UK and the EU, previously raised £352M in capital to support the development…

Spring Budget 2023 | Government reclassifies nuclear energy to boost investment

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Chancellor Jeremey Hunt has announced the government will be consulting on listing nuclear energy as “environmentally sustainable” in a bid to increase private investment in the sector.

Announced during today’s Spring Budget statement, Hunt stated nuclear was a “critical source of cheap and reliable energy” to meeting the UK’s net zero…

Energy decarbonisation plans at risk due to lack of delivery plan

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The government risks not meeting its ambition to decarbonise power by 2035 because it lacks a delivery plan, the National Audit Office (NAO) has warned.

The government has set an ambition that, by 2035, all electricity should be generated using clean sources, subject to maintaining security of supply, phasing out gas-fired…

Sizewell C faces funding challenges as two pension funds back out

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The proposed Sizewell C nuclear power station could face funding challenges after reports that two of the country's largest pension funds will not back the project.

Planning permission for the Suffolk power plant was granted in July 2022 and, in September, former prime minister Boris Johnson confirmed that the government will…

How to accelerate the delivery of small nuclear reactors

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The designs for Hinkley Point C and Sizewell C are deliberately very similar; doing so saves costs and allows re-utilisation of the supply chain, as well as know-how, ensuring a smoother roll out. Both of those sites are adjacent to pre-existing nuclear facilities. It is curious then that EDF submitted…

Fears over potential delay to small nuclear reactor rollout

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Concerns have been raised that the rollout of small modular reactors (SMRs) in the UK could be delayed due to funding challenges.

According to The Times, a funding deal for the first fleet of mini nuclear reactors is not expected to materialise for at least another 12 months, with a row…