The financial landscape for the UK’s small modular reactor (SMR) development and deployment programme “remains in doubt” with financial innovation needed as the country faces key investment decisions, Tim Yeo, chairman of the UK-based New Nuclear Watch Institute (NNWI) thinktank said.
Yeo, a former member of parliament and environment minister, said exploring financial models like “plant-as-a-service” can attract investment and ease the financial burden. This model means nuclear vendors offer comprehensive nuclear power plant lifecycle services, including design, construction, operation, maintenance and decommissioning, as a complete package. It is the kind of model offered by Russian state nuclear corporation Rosatom for new build projects.
Yeo said the success of the UK’s SMR initiative hinges on several key factors working in concert. Strategic partnerships are essential, fostering collaboration between government, industry, and local communities to navigate regulatory hurdles and secure public support.
