A consortium headed by Polish industrialist Michał Sołowow has unveiled ambitions to construct 14 small modular nuclear reactors across three locations in the UK, with private investment totaling £35bn. The initiative aims to deploy sufficient capacity to supply power equivalent to that consumed by approximately 8 million UK residences for more than 60 years, with potential additional applications in data centre operations alongside technology partners.
The nuclear development firm SGE plans to allocate between £2.2bn and £2.5bn to each 300-megawatt reactor unit. The project involves partnerships with prominent industrial firms, including US-based GE Vernova and Japanese conglomerate Hitachi, which are developing the reactor design. The consortium, operating under the name SGE SMR, intends to finalize site selections by this time next year and secure a government support agreement guaranteeing electricity pricing once operations commence in 2034.
While specific site locations remain undisclosed, reports indicate the group has submitted an application for the Oldbury location in south Gloucestershire, a site previously identified for SMR development under the government’s advanced nuclear framework. Sołowow emphasized that the government’s initiatives had established a favorable regulatory environment and highlighted the nation’s experienced nuclear sector workforce. He stated the project would leverage the UK supply chain and establish new benchmarks for nuclear development.
The venture represents competition with established players, notably Rolls-Royce, which secured government backing earlier this year for SMR deployment. The agreement, finalized this week in London, includes Google Cloud as a partner, with discussions regarding potential investment in related datacentre infrastructure worth up to £4.5bn. For project financing, SGE has selected a contracts-for-difference framework similar to arrangements used for other major nuclear facilities, rather than alternative funding mechanisms employed elsewhere.
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