Released March 30, 2016 | GALWAY, IRELAND
en
Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--The U.K. government has begun the search for a partner that will help it introduce mini nuclear reactors to the electricity market.
The first phase of a competition to find a suitable small modular nuclear reactor (SMR) technology has been announced by the Department of Energy and Climate Change (DECC). Potential bidders have been quick to express their interest, including NuScale Power LLC (Portland, Oregon). Others, including Bechtel Corporation (San Francisco, California) and Westinghouse Electric Company LLC (Monroeville, Pennsylvania), are expected to join the race. Earlier this month, Bechtel allied itself with BWX Technologies, Inc. (BWXT) (NYSE:BWXT) (Lynchburg, Virginia) to "pursue the accelerated development" of what they claimed will be world's first commercially viable Generation III++ small modular nuclear reactor.
The U.K. government is planning to fully back SMR rollout. Last November, the Treasury announced £250 million ($355 million) for SMR and wider nuclear research. In its initial call for interest, DECC said the competition will "identify the best value SMR design for the U.K.".
It added: "The Government's interest in the potential benefits offered by SMRs was first set out in the Nuclear Industrial Strategy, published in 2013. In particular, SMRs may have the potential to enable shorter deployment times, reduce the costs of nuclear power for energy consumers, and present a possible area of high value opportunity for UK industry."
A feasibility study published by the government in 2014 found that SMRs were potentially viable within a 10-year timeframe and that they offered the possibility for the U.K. to engage in collaborations with vendors and U.K. industry.
NuScale, the only SMR company currently receiving financial backing from the U.S. Department of Energy, was the first to declare plans to enter the U.K. competition. The company, which is majority owned by Fluor Corporation (NYSE:FLR) (Irving, Texas), said it is aiming to submit its 50-megawatt (MW) reactor design for approval by the U.S. nuclear authorities before the end of this year and for the U.K.'s GDA process next year. It believes that SMR technology could be rolled out in the U.K. by 2025. For additional information, see January 28, 2016, article - U.K. Could Have First Mini Nuclear Plant by 2025.
"NuScale's SMR answers the particular needs of the U.K.'s energy market and the wider UK economy, and we intend to participate fully in the Government's competition," said NuScale's U.K. and Europe managing director, Tom Mundy. "Our technology is designed to be scalable, factory-fabricated and flexible, providing a financeable, cost-effective source of reliable, safe, low carbon power."
The competition was welcomed by the U.K.'s Nuclear Industry Association (NIA). Tom Greatrex, chief executive of the NIA said: "Small modular reactors could potentially play a significant complementary role to the U.K.'s existing new build programme and it is welcome that the Government is looking seriously at the development of SMRs. It is important that the road map, the Chancellor has promised by the autumn should maximise the opportunities for UK industry."
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Our European headquarters are located in Galway, Ireland. Follow IIR Europe on: Facebook - Twitter - LinkedIn For more information on our European coverage send inquiries to info@industrialinfo.eu or visit us online at Industrial Info Europe.
The first phase of a competition to find a suitable small modular nuclear reactor (SMR) technology has been announced by the Department of Energy and Climate Change (DECC). Potential bidders have been quick to express their interest, including NuScale Power LLC (Portland, Oregon). Others, including Bechtel Corporation (San Francisco, California) and Westinghouse Electric Company LLC (Monroeville, Pennsylvania), are expected to join the race. Earlier this month, Bechtel allied itself with BWX Technologies, Inc. (BWXT) (NYSE:BWXT) (Lynchburg, Virginia) to "pursue the accelerated development" of what they claimed will be world's first commercially viable Generation III++ small modular nuclear reactor.
The U.K. government is planning to fully back SMR rollout. Last November, the Treasury announced £250 million ($355 million) for SMR and wider nuclear research. In its initial call for interest, DECC said the competition will "identify the best value SMR design for the U.K.".
It added: "The Government's interest in the potential benefits offered by SMRs was first set out in the Nuclear Industrial Strategy, published in 2013. In particular, SMRs may have the potential to enable shorter deployment times, reduce the costs of nuclear power for energy consumers, and present a possible area of high value opportunity for UK industry."
A feasibility study published by the government in 2014 found that SMRs were potentially viable within a 10-year timeframe and that they offered the possibility for the U.K. to engage in collaborations with vendors and U.K. industry.
NuScale, the only SMR company currently receiving financial backing from the U.S. Department of Energy, was the first to declare plans to enter the U.K. competition. The company, which is majority owned by Fluor Corporation (NYSE:FLR) (Irving, Texas), said it is aiming to submit its 50-megawatt (MW) reactor design for approval by the U.S. nuclear authorities before the end of this year and for the U.K.'s GDA process next year. It believes that SMR technology could be rolled out in the U.K. by 2025. For additional information, see January 28, 2016, article - U.K. Could Have First Mini Nuclear Plant by 2025.
"NuScale's SMR answers the particular needs of the U.K.'s energy market and the wider UK economy, and we intend to participate fully in the Government's competition," said NuScale's U.K. and Europe managing director, Tom Mundy. "Our technology is designed to be scalable, factory-fabricated and flexible, providing a financeable, cost-effective source of reliable, safe, low carbon power."
The competition was welcomed by the U.K.'s Nuclear Industry Association (NIA). Tom Greatrex, chief executive of the NIA said: "Small modular reactors could potentially play a significant complementary role to the U.K.'s existing new build programme and it is welcome that the Government is looking seriously at the development of SMRs. It is important that the road map, the Chancellor has promised by the autumn should maximise the opportunities for UK industry."
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Our European headquarters are located in Galway, Ireland. Follow IIR Europe on: Facebook - Twitter - LinkedIn For more information on our European coverage send inquiries to info@industrialinfo.eu or visit us online at Industrial Info Europe.
