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British nuclear industry $73 million deal to give push to small-scale reactors




By Reuters

Petroleumworld 06 29 2018

Britain pledged on Thursday to commit 56 million pounds ($73 million) to develop modular nuclear reactors as part of a 200 million pound effort to drive down high costs in the industry.

** The government's Nuclear Sector Deal will deliver up to 100,000 jobs overall in nuclear by 2021, it said.

** Supporting small-scale reactors aims to kick-start development and deployment of new cost-competitive energy sources, the government said in a statement.

** EDF and China General Nuclear Power Corp ( IPO-CGNP.HK ) are building Britain's first new reactor in decades for 19.6 billion pounds, called Hinkley Point C, in Somerset.

** The government hopes for a 30 percent cut in the cost of new build projects as well as a 20 percent reduction in decommissioning costs, versus current estimates, by 2030.

** “This Sector Deal marks an important moment for the government and industry to work collectively to deliver the modern Industrial Strategy, drive clean growth and ensure civil nuclear remains an important part of the UK's energy future,” Business and Energy Secretary Greg Clark said.

** Of the funds, 40 million pounds will go to establish an advanced nuclear technologies programme in north Wales.

$1 = 0.7643 pounds


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Reporting by Oleg Vukmanovic Editing by Edmund Blair from Reuters.
06 28 2018

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