An agreement on nuclear power development between the U.S. and U.K. governments is expected to be signed within the week, paving the way for partnership deals in the sector between American and British companies, London announced Monday. The signing is anticipated during President Donald Trump’s state visit to the U.K., which is reported to start on Tuesday.
According to the announcement from London, the agreement will facilitate faster construction of commercial nuclear plants in both countries by implementing measures that shorten the construction licensing period to approximately two years, down from the current three to four years.
Partners and Projects
London has revealed that five commercial nuclear energy partnership plans are expected to be signed by the following companies:
- X-Energy and Centrica. This partnership aims to develop up to 12 advanced modular reactors in Hartlepool and a U.K.-wide program for a fleet generating 6 gigawatts of nuclear power, potentially delivering a minimum of $54 billion in overall economic value.
- Holtec, EDF and Tritax. The three companies are collaborating on a project valued at around $15 billion to develop advanced data centers powered by small modular reactors, located at the Cottam coal-fired power station in Nottinghamshire.
- Last Energy and DP World. This venture will focus on pioneering micro modular nuclear power plants, backed by an investment of approximately $109 million to provide clean energy for the expansion of DP World’s London Gateway port and business park.
- Urenco and Radiant. The two companies have agreed on a deal valued at about $5.4 million to supply the U.S. market with advanced high-assay low-enriched uranium fuel from a cutting-edge U.K. fuels facility, which Urenco will build with co-funding from the U.K. government.
- TerraPower and KBR. This partnership will conduct joint studies and site evaluation in the U.K. to deploy Natrium advanced reactor technology.
‘Golden Age’ for Nuclear Energy
U.K. Prime Minister Keir Starmer emphasized that the U.K.-U.S. nuclear partnership aims to reduce energy costs, create thousands of jobs and stimulate long-term economic growth. “Together with the U.S., we’re building a golden age of nuclear that puts both countries at the forefront of global innovation and investment,” he said.
In February, the premier announced a revamp of London’s nuclear energy policy to support the construction of power plants in areas that require them.