UK may triple nuclear production by 2050

UK ministers are finalizing plans to support new small nuclear reactors as part of a strategy to phase out gas power stations and decarbonize electricity supply, according to the Times, Report informs referring to Bloomberg.

Business secretary Grant Shapps is due to announce proposals for a new body called Great British Nuclear, according to the report.

The goal of this strategy is to increase the capacity of nuclear generation in the UK to 24 GW by 2050, which is three times more than at present, and to provide up to 25% of the projected demand for electricity in the country.

GBN will develop a network of between 20 and 30 small modular reactors that are being built by Rolls-Royce.

It requires an initial budget of about £500 million to start preparatory work on small modular reactors and on about four to six large-scale reactors, according to the report.