Tees Valley is among four UK sites shortlisted as a possible location for a £1.3 billion factory creating small modular reactors (SMR), whose construction could create around 3,600 industry jobs.
Global energy firm Holtec Britain is understood to also be considering sites in the West Midlands, Cumbria, and South Yorkshire for construction of its new small nuclear reactor production facility.
Nuclear energy company Great British Nuclear (GBN), which is owned by the UK Government, provides funding to firms as part of a drive to rapidly expand a programme of SMR projects across the country.
The government wants to ensure up to a quarter of the UK’s electricity is from ‘homegrown nuclear energy’ by 2050, as well as quadruple nuclear capacity by up to 24GW by the same date.
The reactors will be built at the chosen location and then deployed in the UK, Europe and the Middle East, generating an anticipated £1.5 billion to the host economy over 15 years.
The site is expected to produce two to four reactors a year, valued at £1-2 billion each, with no nuclear fuel handled at the location.
US power giant Westinghouse has also chosen Tees Valley as a base for four SMRs, which are set to come into operation at Seal Sands in the early 2030s.
A final decision about where the new SMR factory will be built will be made in the autumn, which could also spell a further 400 manufacturing jobs when the factory is in operation.
Tees Valley mayor Ben Houchen said: “We’re at the forefront of clean energy technology across Teesside, Darlington and Hartlepool – and this shortlisting shows how we’re truly the capital of growth for Small Modular Reactor technology.
“I’m confident we can convince Holtec we’re the premium site given our deep knowledge base in engineering, our great transport links via the Tees, and huge potential we have at our Freeport.
“The potential for another 400 highly skilled well-paid jobs for local people is another huge boost.
“This once again shows we’re putting down a marker to the rest of the world and showing we’re a powerhouse in green energy production and manufacturing on a global stage.”
Was this interesting? Try Lendlease to leave UK and sell construction businesses
If you have a tip or story idea that fits with our publication, please contact the news editor rory@wavenews.co.uk
Get industry news in 5 minutes!
A daily email that makes industry news enjoyable. It’s completely free.