A consortium headed by Polish industrialist Michał Sołowow announced intentions to construct 14 small modular reactors at three locations throughout the United Kingdom, including a site in Gloucestershire where a former nuclear facility operated. The initiative involves private capital of £35bn and aims to generate sufficient electricity to power approximately 8 million UK residences for over 60 years, as well as support energy-intensive datacentre operations.
The development company SGE plans to allocate between £2.2bn and £2.5bn per 300-megawatt reactor facility, working alongside industrial partners including GE Vernova from the United States and Japan’s Hitachi conglomerate, which will handle the design work. The project seeks to identify three operational sites by the following year and obtain government backing through a support contract that would establish a competitive electricity rate once generation begins in 2034.
While the specific sites remain undisclosed, the consortium has applied to develop the Oldbury location in south Gloucestershire, previously designated for SMR development under the government’s advanced nuclear framework. Sołowow emphasized that the government’s strategy to accelerate nuclear technology deployment provided a viable commercial pathway, particularly given the UK’s experienced nuclear workforce.
The initiative places SGE in direct competition with Rolls-Royce, which secured government approval earlier this year to begin power generation by 2032 at the earliest. Google Cloud is involved in the joint venture agreement finalized this week in London, with potential investment of up to £4.5bn in datacentres to utilize the reactor output. The consortium plans to pursue a contracts-for-difference arrangement similar to arrangements offered for other major nuclear projects, rather than alternative funding structures used elsewhere.
Tom Greatrex, leading the nuclear industry association, characterized the proposal as evidence that the government’s nuclear framework has stimulated fresh interest in privately funded nuclear ventures.
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