The government has launched a £200M Nuclear Sector Deal that will include a new £40M thermal hydraulics facility and up to £32M for research and development into advanced modular reactors.
The deal will provide £30M - £10M from government and £20M from industry - for a national supply chain and productivity improvement programme to help UK companies win work.
The deal, which will be launched at the Trawsfynydd nuclear site, also includes a commitment to reduce the cost of new nuclear build projects by 30% by 2030 and the cost of decommissioning old nuclear sites by 20% by the same deadline.
Business secretary Greg Clark said: “The UK is the home of civil nuclear technology and with this investment in innovation and our commitment to increasing diversity in an already highly-skilled workforce, I want to ensure we remain the world leader.
“Nuclear energy not only fuels our power supply, it fuels local jobs, wages, economic prosperity and drives UK innovation.
“This Sector Deal marks an important moment for the Government and industry to work collectively to deliver the modern Industrial Strategy, drive clean growth and ensure civil nuclear remains an important part of the UK’s energy future.”
Nuclear Industry Council co-chair Lord Hutton said: “The industry wants nuclear energy to remain competitive against other forms of low-carbon energy - which is why we are committed to working with Government to reduce costs across the sector. Today’s funding boost will support this common goal; increasing the UK’s industrial capabilities as well as signalling our global leadership in nuclear to the rest of the world.”
The deal also commits to increase gender diversity in the nuclear workforce, with a target of 40% of women working in the sector by 2030.