A nuclear development consortium headed by Polish billionaire industrialist Michał Sołowow has announced intentions to construct 14 small modular reactors at three locations throughout the United Kingdom. The project, backed by £35bn in private capital, aims to generate sufficient electricity to supply approximately 8 million UK homes for over six decades.
The consortium, operating under the name SGE SMR, will partner with industrial manufacturers including GE Vernova and Hitachi, who are designing the 300-megawatt boiling water reactor units. Individual reactor construction costs are projected between £2.2bn and £2.5bn. The group intends to secure site approvals and government backing agreements within the coming year, with electricity generation anticipated to commence in 2034.
While specific locations remain undisclosed, the consortium has reportedly submitted an application for the Oldbury site in south Gloucestershire, a location previously designated for small modular reactor development under the government’s advanced nuclear framework. The project will compete with Rolls-Royce, which secured government approval earlier this year to begin power generation by 2032 at the earliest.
Sołowow emphasized the opportunity presented by the government’s streamlined nuclear approval process and the nation’s experienced nuclear workforce. He stated the venture would establish new standards for nuclear development while relying substantially on UK supply chain resources. The consortium signed a joint venture agreement this week in London that includes Google Cloud, with discussions regarding potential £4.5bn datacentre investments to utilize the reactor output.
The proposal follows the Labour government’s commitment to expanding nuclear capacity and supporting technology companies in developing SMRs for energy-intensive AI operations. The consortium plans to pursue a contracts for difference scheme similar to Hinkley Point C rather than the construction-phase funding model employed for Sizewell C. Industry observers noted the project demonstrates renewed confidence in privately-led nuclear ventures under the government’s current framework.
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