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An Italian energy start-up is pursuing plans to build 20 mini reactors across the UK, as it seeks to capitalise on the country’s nuclear power expansion.
Newcleo is aiming to build a fleet of so-called mini-nukes on up to six sites in Britain, all of which will be situated near energy-intensive industries.
Controversially, the reactors will be powered by plutonium, a fuel not currently used in the UK partly because of its association with nuclear weapons.
The company has said it wants to build near dense population centres after the Government recently relaxed rules restricting nuclear developments to remote locations.
Newcleo said its reactors will be efficient, safe and provide cheap low-carbon power to support UK industries.
Andrew Murdoch, Newcleo’s managing director for nuclear, said: “We have started shortlisting the best locations for us, and we’re advancing some discussions.”
Referring to key industrial centres, such as Teesside, Humberside and Merseyside, he added: “The industrial clusters are a natural place to go. It’s where a lot of the energy transition opportunities are centred, so they provide a great opportunity.”
Mr Murdoch said the generating capacity of Newcleo’s reactors will be significantly less than those under construction at Hinkley Point C and Sizewell C.
However, this means they will be small enough to be built inside factories, potentially offering huge cost savings compared to giant projects such as Hinkley.
Mr Murdoch also indicated how they could be used to exploit exotic new technologies, such as the use of molten lead to transfer heat from the reactor to generate steam for power.
The current focus for Newcleo is to create a working reactor design, which will be the first step towards potentially securing regulatory approval.
If approved, Mr Murdoch said the reactors would cost around £5bn per gigawatt of generation capacity, compared to £15bn per gigawatt cost of Hinkley Point C.
The small reactors could also be built and installed within up to four years, said Mr Murdoch, unlike the two decades required for Hinkley.
That reduction in time will lead to a vast reduction in financing costs, he added.
Newcleo is officially headquartered in London but most of its research and staff is based in Italy.
Its announcement comes at a time of rapid expansion for the nuclear industry.
In the UK, both the Conservatives and Labour have backed plans for a massive expansion of nuclear power.
The Government’s current target is for nuclear power to provide 24Gw of generating capacity by 2050, which would account for around two-fifths of current demand.
This would come from a mix of larger nuclear power stations, such as Hinkley Point C and Sizewell C, as well as smaller modular reactors (SMRs).
Six other companies including Rolls-Royce, Westinghouse and EDF have already had designs shortlisted for the first generation of SMRs.
Newcleo is not among them because its technology is focused on the next generation of advanced SMRs planned for the next decade.
Mr Murdoch said Newcleo hoped to build its first UK power station in the early 2030s.
He said: “We are planning on building about 20 reactors across four to six sites. Building them in clusters makes them operationally efficient.”
Tom Greatrex, chief executive of the Nuclear Industry Association lobby group, said: “SMRs will provide clean, reliable and sovereign power for a very long time.
“They are based on proven technology which can expand the use of modular techniques which are well known. These reactors will generate power 24/7, working alongside renewables to keep the lights on whatever the weather.”
However, critics argue there is little supporting evidence for the current wave of enthusiasm around SMRs.
Steve Thomas, emeritus professor of energy policy at Greenwich University and an expert on nuclear power, said: “The proponents of small modular reactors have done a great job giving the impression that SMRs are cheaper and quicker to build and will provide a jobs bonanza. None of this is true.
“There has been no commercial order for an SMR of any type, just a handful of prototype plants that will not lead to commercial orders.”