Thursday 7 March 2024

UK seals £160m nuclear site deal

The UK Government has announced a significant step forward in its nuclear energy strategy with the acquisition of the Wylfa and Oldbury nuclear sites from Hitachi for £160 million.

The deal, revealed during the Budget, has been met with anticipation from industry insiders and stakeholders.

Tom Greatrex, Chief Executive of the Nuclear Industry Association, emphasised the importance of this moment, describing it as "pivotal" for the future of nuclear energy in the UK.

Tom Greatrex said: "Wylfa is one of the very best sites for new nuclear anywhere in Europe and there is great promise for a series of small modular reactors at Oldbury.

"The success of ramping up nuclear capacity for energy security and net zero rests a great deal on whether we develop at these sites and others.

"New nuclear capacity at Wylfa would transform the North Wales economy with fresh investment, thousands of good jobs, as well as providing clean, reliable and sovereign power lasting well into the next century."