A Polish-led consortium has unveiled plans to build 14 nuclear reactors across Britain as part of a £35billion investment designed to boost the country’s electricity supply.
SGE, the Warsaw-headquartered group behind the proposal, said the reactors would generate enough electricity to power around eight million homes within eight years.
The proposed fleet would provide up to 11 per cent of Britain’s electricity supply, making it one of the largest nuclear infrastructure projects announced in recent decades.
Under the plans, the consortium intends to build the reactors across three sites, with commercial operations targeted to begin in 2034.
The proposal comes as the Government seeks to expand Britain’s nuclear capacity as part of its long-term energy security strategy.
The consortium is led by Polish billionaire Michal Solowow and has secured backing from international partners.
GE Vernova Hitachi Nuclear Energy would manufacture the BWRX-300 small modular reactors that form the centrepiece of the project.
The reactors work by heating water with nuclear fuel until it reaches boiling point, producing high-pressure steam that drives electricity-generating turbines.
Unlike conventional nuclear power stations, the reactors are designed with modular components that can be manufactured in factories and transported to the site, a process intended to reduce construction times and costs.
Jason Cooper, chief executive of GE Vernova Hitachi Nuclear Energy, said: “SGE’s vision reflects the growing momentum behind new nuclear across Europe and the critical role SMRs can play in strengthening energy security while delivering reliable, lower-carbon electricity”.
SGE has also pledged to generate electricity at a lower price than that agreed for Hinkley Point C, where EDF is expected to receive more than £150 per megawatt hour.
Rafał Kasprów, the consortium’s chief executive, said: “Our price will be attractive and below what has been offered for Hinkley. We are not disclosing the actual number publicly before we enter dialogue with the UK Government, but it will be lower than EDF is getting at Hinkley”.
Rather than seeking direct Government funding, SGE plans to secure a Contract for Difference agreement, which guarantees electricity generators a minimum price for the power they produce.
The Oldbury-on-Severn site in South Gloucestershire has been identified as a potential location for up to six reactors, placing SGE in competition with Rolls-Royce, which has shifted the focus of its own small modular reactor plans towards Wylfa in North Wales.
The proposal comes against the backdrop of significant cost overruns affecting Britain’s existing nuclear projects.
Hinkley Point C was originally expected to cost £18billion and begin generating electricity this year, but projected costs have increased to £50billion and the plant is now expected to become operational around 2031.
Sizewell C has also seen estimated costs rise from £20billion in 2020 to around £48billion.
Britain also faces an estimated £216billion bill to build a permanent underground facility to store decades of accumulated nuclear waste, a project expected to take more than a century to complete.
SGE said it expects to join the Advanced Nuclear Pipeline by November, with site selection and discussions over financial support expected to conclude by the middle of 2027.
A Department for Energy Security and Net Zero spokesman said the Government was delivering “a golden age of nuclear, securing thousands of good, skilled jobs and billions in investment”.
