The U.S.-based startup, Last Energy, plans to build a £300 million ($391 million) micro-nuclear project in Wales to supply local industry needs.
The UK’s new Labour government has stated that small nuclear power plants will play a crucial role in helping the country achieve its net-zero carbon targets, while businesses are also seeking new sources of emissions-free electricity generation.
Last Energy UK, a subsidiary of Washington, D.C.-based Last Energy, said it will not require public funding for the project at the former coal power plant site in Bridgend, South Wales, which could generate electricity by 2027.
The company also reported that they are in commercial discussions with various local industrial customers, and they expect that power purchase agreements will help financially support the project.
Four micro-reactors, each with a capacity of 20 megawatts (MW) of electricity, will be installed, bringing the total capacity to 80 MW.
The developers hope that these smaller micro-nuclear projects will be cheaper and easier to launch than larger projects, which have struggled to attract enough investment due to high upfront costs. Last Energy UK will engage with the public on this project, which is expected to create around 100 jobs.
