The UK Government has announced that the country is committed to quadrupling its nuclear-power capacity by 2050. On Thursday, the government released a road map that details how the UK will increase nuclear generation by up to four times to 24GW by 2050.

The road map includes plans to build another large-scale nuclear power plant as the UK Government seeks to expand production of the energy source, which it sees as key to the energy transition. According to the government’s press release, the plant will be “as big as Hinkley C and Sizewell C”, two plants that are central to the UK’s nuclear energy aims.

Once the government has reached a final investment decision on the Sizewell C station with French state-owned energy company EDF, discussions on the new nuclear site will begin.

In an interview with Bloomberg, Andrew Bowie, the Minister for Nuclear and Renewables, said: “There is no net zero without nuclear. No one is trying to suggest that it is not expensive to deliver, but it is an expense we can’t afford not to spend.”

Construction of Sizewell C has taken longer than planned and costs have run over budget, dampening investor appetite for such projects.

Along with the new nuclear power station, the government will also invest £300m ($382.2m) in HALEU technology, which is needed to produce nuclear fuel and is currently only produced in Russia. Through this investment, the country aims to become a global supplier of uranium fuel and challenge Russia’s dominant position in the market.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

UK Prime Minister Rishi Sunak said: “Nuclear is the perfect antidote to the energy challenges facing Britain – it is green, cheaper in the long term and will ensure the UK’s energy security for the long-term.”

On Tuesday, EDF announced it will extend the life of its existing nuclear fleet in the UK. In 2023, its nuclear power output in the UK totalled 37.3 terawatt-hours, a 15% drop from 2022 caused by closures and outages. The company said that despite the fall in output, it remained nearly four-times more than that forecasted when EDF acquired the UK’s fleet in 2009.