Billionaire Targets U.K. For $47 Billion Mini Nuclear Power Fleet

Written by Martin Lynch, European News Editor for IIR News Intelligence (Sugar Land, Texas)

Summary

A consortium of private investors led by a Polish billionaire has revealed plans to invest £35 billion (US$47 billion) in rolling out a fleet of small modular reactors (SMRs) across the U.K..

14 SMRs Planned for U.K.

Polish billionaire Michal Solowow is targeting the U.K.'s emerging small modular reactor (SMR) sector with a £35 billion (US$47 billion) plan to roll out a fleet of 14 SMRs. SGE SMR U.K. will be the developer and is supported by parent company SGE, GE Vernova Hitachi Nuclear Energy, Samsung C&T, Laing O'Rourke, Aecon Group Inc., Fermi Development, Etara and an "experienced" but unnamed nuclear operator. SGE is already working on a number of SMR projects in Poland. An application under the U.K.'s Advanced Nuclear Framework (ANF) has been submitted to develop a combined 4.2-gigawatt (GW) fleet, which if fully realized could deliver 11% of the country's power demand "for at least 60 years." According to Industrial Info Resources data, the first proposed project will be constructed at Oldbury, the site of a closed nuclear power plant, at a cost of US$20 billion. It will have a generating capacity of 1.8 GW. 

Which SMR Technology?

The proposed projects will use the BWRX-300 SMR from GE Vernova Hitachi Nuclear Energy (GEH). It is a 300-megawatt (MW) water-cooled, natural circulation SMR with passive safety systems based on GEH's Economic Simplified Boiling Water Reactor (ESBWR). Last December, the BWRX-300 successfully completed Step 2 of the U.K.'s Generic Design Assessment, used to assess all new nuclear power technologies before they are cleared for use. The BWRX-300 has been cleared for use in Canada. Industrial Info Resources is tracking the Darlington New Nuclear Project in Bowmanville, Ontario, worth US$2.4 billion. 

First U.K. Projects

The plan is for the initial U.K. project site to host six of the 300-MW SMRs, followed by two more projects boasting four each. Final negotiations on the sites are continuing, but the company said that locations of the proposed sites and operator will be released "in the near future." SGE said that it has invested £50 million (US$66 million) getting to the application stage. The company is already progressing six proposed projects in Poland, worth more than US$30 billion in investment. Michał Sołowow, founder of SGE, said: "We are focused on delivering efficient, safe, affordable, and clean nuclear energy power at fleet scale. The U.K. is home to one of the world's most experienced nuclear workforce and the British Government has provided a clear path to market with the Advanced Nuclear Framework. Because of this, I am confident we will set a new standard for nuclear development by combining our disruptive business model with the BWRX-300's tenth generation proven technology.  We will rely strongly on the UK supply chain; it is a critical element for our project."

U.K. Competition

Rolls-Royce SMR remains the only SMR developer to have completed all three stages of the U.K. assessment process with its 470-MW unit based on small pressurized water reactors (PWRs). It was chosen by the U.K. government for the country's first SMR plants last June after winning a two-year competitive bidding process against rivals Holtec International, GE-Hitachi Nuclear Energy International and Westinghouse Electric Company. The government has announced £2.5 billion (US$3.4 billion) for its SMR programme over the next four years. Wlyfa in Wales has been selected as the location for the U.K.'s first planned SMR plant, which will use three SMR units from Rolls-Royce SMR, capable of generating enough power for roughly 3 million homes. For additional information, see June 24, 2025, article - U.K. Picks Rolls-Royce for First Mini-Nuclear Plants. According to Industrial Info Resources data, there are five other planned SMR projects in the U.K., including Wylfa, worth US$35 billion in investment.

Key Takeaways

• A Polish-led consortium is planning to spend US$47 billion to build 14 small modular reactors (SMRs) across the U.K.
• The proposed projects will use the BWRX-300 SMR from GE Vernova Hitachi Nuclear Energy (GEH).
• Industrial Info Resources is tracking five other planned SMR projects in the U.K., including Wylfa, worth US$35 billion in investment.

About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).