US nuclear energy giant considers SMR factory in UK

By Finance News On Jul 31, 2024

Holtec, a major player in the nuclear industry, is evaluating potential sites for a new £1.3 billion manufacturing facility for Small Modular Reactors (SMRs) in the UK.

Kingmoor Park in Carlisle has been shortlisted along with other locations including South Yorkshire, Tees Valley and the West Midlands.

On Monday, Professor Dame Julia King, Baroness Brown of Cambridge, Gareth Davies, Director of Holtec GB and Tom Lees, Managing Director of Bradshaw Advisory, visited Kingmoor Park.

The visit aimed to assess the suitability of the site, which could significantly impact the local economy, creating approximately 3,600 construction jobs and up to 400 manufacturing positions.

Lord Inglewood said: “It is excellent news that Kingmoor Park is one of the shortlisted sites and confirms that Cumbria is recognised as one of the most serious players for both clean energy and advanced manufacturing capabilities.”

Leader of Cumberland Council, Councillor Mark Fryer said: “While Cumberland is rightly seen as the home of the UK civil nuclear industry, it is important to note that there would be no nuclear material on the proposed Kingmoor site.

“The factory would produce two to four reactors per year, valued at £1-2bn each, which would be deployed across the UK, Europe and the Middle East.”

Holtec’s Senior Adviser in the UK, Professor Dame Julia King, Baroness Brown of Cambridge said: wThe region’s long history of working on nuclear fills us with confidence as we move forward with our assessment of the shortlisted bids.

“We will come to a decision in due course.”