A consortium led by Polish industrialist Michał Sołowow has unveiled plans to construct 14 small modular nuclear reactors at three locations throughout the United Kingdom, representing a £35bn private capital commitment. The initiative aims to generate sufficient electricity to power the equivalent of 8 million UK homes for more than 60 years, with potential applications including powering datacentre operations alongside technology companies.
The nuclear development company SGE plans to allocate between £2.2bn and £2.5bn toward each 300-megawatt reactor. The project involves partnerships with GE Vernova, a US manufacturer, and Hitachi, a Japanese industrial conglomerate responsible for reactor design. The consortium, operating under the name SGE SMR, intends to identify three sites by this time next year and secure a government support contract guaranteeing competitive electricity pricing once generation begins in 2034. The project utilizes the GE Vernova Hitachi BWRX-300 design, a boiling water reactor model.
The Oldbury site in south Gloucestershire, a former nuclear power location, has been identified as a potential location following the government’s designation of the site earlier this year for SMR development under its advanced nuclear framework. Sołowow emphasized that the government’s initiative has created favorable conditions for nuclear development in a region with significant nuclear industry expertise. He highlighted plans to leverage UK supply chains and position the project as a competitive advantage for the British economy.
The Labour government has prioritized nuclear expansion, with Prime Minister Keir Starmer advocating for technology companies to collaborate on SMR development for energy-intensive artificial intelligence datacentres. SGE’s venture includes a partnership with Google Cloud, with discussions regarding potential investment of up to £4.5bn in associated datacentre infrastructure, though this element remains separate from the current application. The consortium seeks a contracts for difference arrangement similar to Hinkley Point C’s structure, rather than the model used for Sizewell C. This approach provides developers with fixed-rate payments from energy bills once generation commences, reducing construction-phase financial risk to consumers. The project faces competition from Rolls-Royce, which secured a government competition earlier this year to begin power generation by 2032 at the earliest.
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