Launch of Great British Nuclear heralded as ‘nuclear power renaissance’

Companies can now register their interest with GBN to participate in a competition to secure funding that supports the development of their products, including SMRs (small modular reactors) whose components are built in factories and assembled on-site.  

Once the initial stage is complete, GBN will down-select those technologies which have met the criteria, and then enter into discussions with those companies as part of an Invitation to Negotiate phase. The initial down-select will take place in the autumn.

In addition to supporting this emerging technology, the government said it remains committed to Hinkley Point C and Sizewell C and will work with GBN to consider the potential role of further large gigawatt-scale nuclear power plants.

“Today, 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,” energy security secretary Grant Shapps said in a statement.