A £35 billion scheme to construct 14 small nuclear reactors in the UK.

      A Polish billionaire has revealed intentions to establish a fleet of small nuclear reactors throughout Britain, with an estimated cost of £35 billion, according to TechRadar. Michał Sołowow’s company, SGE, aims to install 14 GE Vernova Hitachi BWRX-300 reactors at three locations in the UK, with the goal of producing electricity by 2034.

      These reactors would collectively produce 4.2GW, which could supply power to approximately eight million homes, equating to around 11 percent of the UK's electricity demand for at least 60 years. SGE, founded in Warsaw in 2019, has registered under the UK’s new Advanced Nuclear Framework. Its project team includes GE Vernova Hitachi, Samsung C&T, and Laing O’Rourke.

      The appeal of small reactors is their agility. Each BWRX-300 generates about 300MW, which is significantly less than a conventional plant. The advantage is that factory-produced, uniform units are cheaper and can be deployed more quickly than a single large customized facility.

      The timing is intentional. The demand for electricity is being driven up by AI data centers, electric vehicles, and heat pumps all at the same time. After years of focusing on renewables, governments are now looking for dependable, continuous energy sources. Nuclear power, once out of favor, is re-entering discussions.

      However, the financial aspect presents challenges. Estimates suggest the cost for each 300MW reactor could be between £2.2 billion and £2.5 billion. SGE is proposing a privately funded initiative but seeks a Contract for Difference, which offers a government-backed guaranteed price, along with support from the National Wealth Fund. Under this structure, SGE claims consumers would incur no costs until the reactors become operational.

      Moreover, SMRs have yet to be extensively tested on a large scale, as no BWRX-300 has been commercially operational to date, and nuclear projects have a history of delays and budget overruns. The target of 2034 allows for considerable potential for setbacks.

      If successful, this initiative could position a foreign entrepreneur as one of the leading contributors to British energy infrastructure. It also reflects the direction of the AI era, where the focus is shifting from chips and models to the crucial issue of who can generate sufficient electricity and where it will come from. Britain has invested in data centers, and there needs to be a reliable energy source to support them.