Nuclear power giant sizes up the region for £1.3bn factory bid
Holtec’s Dual-Unit SMR-300 Small Modular Nuclear Plant
The West Midlands has played host to US nuclear power giant Holtec, as it looks to find a home for its £1.3bn Small Modular Reactor (SMR) factory.
Representatives were given an overview of the region’s offering to advanced manufacturing and low-carbon investors. This included a visit to the Manufacturing Technology Centre (MTC) based at Ansty Park, Coventry.
Holtec is sizing up options in the West Midlands, alongside South Yorkshire Combined Authority, Tees Valley Combined Authority and Cumbria Local Enterprise Partnership (CLEP), after the four regions were shortlisted as potential locations for the SMR in May.
The winning site is projected to contribute £1.5bn GVA to the local economy over 15 years and generate thousands of jobs including 3,600 just in the construction phase.
Spanning 20 hectares, the SMR, which has a lower capacity than large-scale nuclear plants and is quicker and cheaper to build, will produce between two and four reactors annually from 2030, each worth £1-2bn.
Holtec is also planning to develop a factory to manufacture around 16 SMRs in England, as well as more across Europe and the Middle East.
A final decision to select the winning location is expected to be made in the autumn.
Holtec’s Senior Adviser in the UK, Professor Dame Julia King FRS FREng, Baroness Brown of Cambridge, said: “My colleagues and I were highly impressed by the state-of-the-art facilities we saw at the Manufacturing Technology Centre (MTC) in Ansty Park, in particular their additive manufacturing and cross sector research, as well as the team’s passion, confidence and enthusiasm for attracting high quality jobs and investment.
“The region’s wealth of world class higher education institutions, relevant skills base, and its proud history of advanced manufacturing really fills us with confidence as we move forward with our assessment of the shortlisted bids. We will come to a decision in due course.
“Holtec’s new UK SMR factory, wherever it is located, will be transformative – opening a new export market worth billions and generating highly skilled, unionised jobs during both its construction and operational phase for decades to come.”
Mayor of the West Midlands, Richard Parker, said: “The West Midlands was the crucible that fired up the Industrial Revolution and led to global change. Now we stand ready to bring about a new revolution – one that brings us greener energy, sustainable growth and change for the better. Our long-standing industrial heritage means we have all of the building blocks in place to support growing businesses. An unrivalled manufacturing skills-base, central connectivity and expert understanding of scalable, sustainable energy solutions make us a natural and reliable partner for Holtec Britain and a great location for their SMR factory.
“Our refreshed Regional Energy Strategy – set to be published later this year – paves the way for a sustainable and just transition to cleaner energy and will stand us in good stead to benefit from and contribute to the government’s national energy ambitions. We will work closely as a region with partners to deliver these ambitions and ensure the region makes the most of this type of investment, including securing high-quality jobs for our people.”
