The UK Government has made a pivotal advancement in its nuclear energy agenda by purchasing the Wylfa nuclear from Hitachi for £160 million.
Unveiled during the Budget announcement, this transaction has generated considerable excitement among industry experts and stakeholders. Hitachi abandoned its plans for a new nuclear power plant at Wylfa four years ago, because of rising costs.
The UK government has outlined a nuclear power strategy that envisions the construction of a new power station, comparable in size to the one currently underway at Hinkley in Somerset, with the capacity to supply energy to six million homes.
Additionally, the strategy includes proposals for several small modular reactors (SMRs), which offer a cost-effective alternative due to their ability to be partially pre-assembled offsite.
Chancellor Hunt has announced a deadline until June for companies to submit their preliminary bids for constructing these SMRs.
The Wylfa site has been identified as a prime location for both a large-scale nuclear project and multiple SMRs.
Previous discussions have been reported with consortia interested in developing a new nuclear facility on Anglesey, one of which includes the participation of the American engineering giant Bechtel.
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.
“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.”
