A consortium headed by Polish industrialist Michał Sołowow has unveiled plans to construct 14 small modular reactors at three locations throughout the United Kingdom. The initiative represents a significant commitment of private capital totaling £35 billion, with individual reactor investments ranging from £2.2 billion to £2.5 billion each. The project aims to generate sufficient electricity to meet the residential needs of approximately 8 million UK homes over a period exceeding 60 years.
The consortium, operating under the name SGE SMR, is collaborating with major industrial partners including GE Vernova and Hitachi, who are responsible for designing the boiling water reactor units. The group intends to identify three specific sites by this time next year and pursue a government support contract that would establish a guaranteed electricity price structure once generation commences in 2034. While specific site selections remain undisclosed, reports indicate an application has been submitted for the Oldbury location in south Gloucestershire, a site previously identified under the government’s advanced nuclear framework for SMR development.
Sołowow emphasized that the government’s framework for expediting nuclear technology deployment has created favorable conditions for investment in the UK’s established nuclear sector. He highlighted the significance of utilizing the UK’s supply chain and expressed confidence in establishing new development standards by combining the business model with proven reactor technology. The project has also attracted interest from Google Cloud, which the consortium hopes will eventually invest up to £4.5 billion in associated datacentres to utilize the nuclear capacity.
The initiative positions SGE in direct competition with Rolls-Royce, which secured government backing earlier this year to commence power generation by 2032. SGE is pursuing a contracts for difference arrangement similar to Hinkley Point C, rather than the construction-phase payment model employed for the Sizewell C project. Industry observers note that the proposal demonstrates renewed private sector enthusiasm for nuclear development following the government’s adoption of its nuclear expansion framework.
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