The British government revealed on Tuesday the investment of 14.2 billion pounds (16.8 billion euros) in the construction of the Sizewell C Nuclear Center, which will create 10,000 jobs.
The central, which should only be operational in the 2030s, will produce energy for six million homes and is considered essential for energy safety and compliance with UK climate goals.
The government is “launching a new era for nuclear energy” in the United Kingdom, Finance Minister Rachel Reeves said on the eve of the statement in Parliament on Wednesday, where she will present the expense and investment priorities until the end of the decade.
The minister has already assured that the sector can count on more than £ 30 billion (35 billion euros).
Like other European countries who want to relaunch industry, London considers that he needs new nuclear power plants to lower electricity prices, ensure energy security and “combat the climate crisis,” said Energy Secretary Ed Miliband, quoted in a statement.
At the top of the investment list announced on Tuesday, London promised to inject £ 14.2 billion (almost 17 billion euros) into the UK nuclear reactor project in eastern UK, led by the French Energy company Edf.
The nuclear center of, consisting of two EPR reactors, could cost a total of 20 to 30 billion pounds (24 to 35 billion euros), or even more, according to some estimates contested by the government.
However, it is not expected to start producing electricity before 2035.
London took a direct share of 50% in the project at the end of 2022, while Chinese company CGN withdrew from the project.
The British government is now Sizewell C’s majority shareholder, EDF said in January.
With a set of aged nuclear centers, the United Kingdom has again bet on developing this form of energy since the beginning of the war in Ukraine, in the name of energy security.
The executive also announced Tuesday that he chose the British industrial group Rolls-Royce to build the country’s first small nuclear reactors (SMR), a cheaper technology than conventional centers, but will still require years of development.
The government has pledged to spend more than £ 2.5 billion (3 billion euros) on the program of small modular reactors as a whole and plans to inject the same amount in the investigation and development of nuclear fusion.
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