Nuclear Reactors: Finance

Department for Business, Energy and Industrial Strategy written question – answered on 1st July 2020.

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Photo of Alan Brown Alan Brown Shadow SNP Spokesperson (Energy and Climate Change)

To ask the Secretary of State for Business, Energy and Industrial Strategy, how much funding has been allocated to the development of small modular reactors; what the spend is to date; what progress has been made against agreed milestones; and if he will make a statement.

Photo of Nadhim Zahawi Nadhim Zahawi Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy)

The Government has awarded £18 million, match funded by industry, to the UK Small Modular Reactor (SMR) consortium for Phase 1 of a programme to develop an SMR in the UK. This is part of a greater bid into the Industrial Strategy Challenge Fund. Approval will be sought for the remaining £215.5 million in Government grant funding (matched by industry) in due course.

As at 15 June, costs of £7 million of the £18 grant funding had been incurred. Phase 1 is due to complete in April 2021

Additionally, the Government has provided up to £7 million to regulators to build the capability and capacity needed to support and assess advanced nuclear technologies.

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