A £35bn Plan for 14 Mini Nuclear Reactors in the UK
A Polish billionaire, Michał Sołowow, has unveiled an ambitious plan to dot the British countryside with small nuclear reactors, valued at £35 billion. His company, SGE, proposes to install 14 GE Vernova Hitachi BWRX-300 reactors across three sites in the UK, aiming for first power by 2034.
The Numbers and Vision
The project aims to generate 4.2GW of electricity, sufficient for approximately eight million homes (or about 11% of UK electricity demand) for at least 60 years. SGE has filed under the UK’s new Advanced Nuclear Framework, with a delivery team comprising GE Vernova Hitachi, Samsung C&T, and Laing O’Rourke.
Small Modular Reactors: A Faster, Cost-Effective Solution?
Small modular reactors (SMRs) are seen as a faster and more cost-effective alternative to traditional nuclear plants, each generating around 300MW. The timing of this proposal aligns with rising power demand from AI data centres, electric cars, and heat pumps, making nuclear energy an attractive option once again.
Challenges Ahead
Despite the potential advantages, there are significant challenges:
- Cost: Each reactor is estimated to cost £2.2 billion to £2.5 billion. SGE seeks a Contract for Difference and engagement from the National Wealth Fund to finance the project.
- Proof at Scale: No BWRX-300 runs commercially yet, and nuclear projects have a history of delay and cost overrun.
Implications and Significance
If successful, this plan would make Sołowow one of the biggest builders of British power infrastructure. It also signifies a shift in the AI era’s focus from chips and models to the physical question of electricity generation. While the UK has bet on data centres, someone needs to power them.
By Alina Maria Stan (Tekpon co-founder and COO)