- The UK government has signed a deal with Rolls-Royce to develop the nation's first small modular nuclear reactors (SMRs).
- The agreement, announced by government-owned Great British Energy – Nuclear (GBE-N), will see work begin immediately on creating three SMRs.
- Chancellor Rachel Reeves said the deal is "more important than ever" amidst the Middle East crisis, aiming to boost energy sovereignty and reduce reliance on volatile global fossil fuel prices.
- These SMRs are projected to generate enough low-carbon electricity to power approximately three million homes by the mid-2030s and support around 3,000 jobs during construction.
- The National Wealth Fund plans to invest up to £599 million to support the design stages of the SMRs, marking a significant push for new nuclear capacity after decades of underinvestment.
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