UK’s First New Nuclear Site Since the 1970s Begins Licensing

(Bloomberg) -- The UK’s first new location for a commercial nuclear power plant since the 1970s is undergoing licensing from the country’s regulator, at a time when the government is making it easier to approve new projects.  

Last Energy Inc.’s microreactors are set to be built at a site of a former coal plant in south Wales. That would mark the first new site for a commercial reactor to begin licensing since 1978, as all projects since then have been built at locations on or next to sites that have had a plant there, the firm said.

Nuclear power is emerging as an important part of Britain’s ambitious decarbonization targets, though can be a burden on taxpayers and the high costs of construction have contributed to project delays. Last Energy’s project won’t require public funding and is being built to serve industrial customers directly.

The government is taking steps to make it easier to approve and build nuclear plants, with an overhaul of planning rules giving developers more freedom over where they can build. Last Energy’s site still needs to be approved by the Office for Nuclear Regulation. 

Last Energy plans to deliver the first 20-megawatt microreactor at the plant in 2027. The Washington-based company has said the site’s output should generate enough power for about 244,000 homes once all four reactors are online. It has estimated an overall investment of about £300 million ($378 million).

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