UK Nuclear Industry Seeks More Government Clarity for Investment
- UK has big nuclear ambitions, but still missing funding
- Britain aims to ramp up nuclear power to hit climate goals
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Britain needs more government support to achieve its nuclear-power ambitions, which could improve the country’s energy security and help achieve its climate goals, industry leaders told a Parliamentary committee Wednesday.
The UK aims add 24 gigawatts of new nuclear capacity by 2050 — enough energy to power about 18 million homes, according to Bloomberg estimates. However, it has struggled to secure investments in major projects, which can take more than a decade to build and cost over £20 billion ($24.6 billion).