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UK Starts £120 Million Fund to Develop Nuclear Power Technology

  • Future Nuclear Enabling Fund to help attract private money
  • Britain seeks to approve eight new reactors by end of decade
The under construction Hinkley Point C in Bridgwater, UK.

The under construction Hinkley Point C in Bridgwater, UK.

Photographer: Finnbarr Webster/Getty Images  

The UK government is giving £120 million ($147 million) to a new fund for the development of nuclear power as the country seeks to put atomic energy at the heart of its electricity mix.

The Future Nuclear Enabling Fund will help the government meet its goal of approving eight new reactors by 2030, as committed to in its energy security strategy last month, according to a statement published Friday. The fund aims to encourage private investment in U.K. projects.