Our first SMR deployment - the first anywhere in the UK - is on the north bank of the River Tees, where clean and always-on energy will enable new industry and inward investment to the Tees Valley region of the north-east.

This is a fully privately funded project, with no cost or risk to the UK taxpayer.

We are working with Westinghouse to deploy four AP300s on the site. These reactors are based on well-proven technology used around the world.

The four reactors will provide around a gigawatt of energy, which is the demand expected for the green energy and chemical hub planned on the North Tees Group Estate.

This hub is expected to create thousands of new jobs, working in and to support the new companies that invest there. That’s in addition to the thousand or so jobs needed to run the SMR site.

As well as bringing new jobs to the region, this multi-billion-pound investment will benefit the local community through a tangible stake in the community power company. We are excited to work closely with our host community to define this, along with other practical issues in which our neighbours can have a real say.

This ‘first of a kind’ opens up the UK’s SMR sector, and will materially reduce the cost and risk for those SMRs that follow – including any potential Treasury-funded projects. Other benefits to the UK include:

• Support for Net Zero.

• Economic growth and levelling-up.

• Export growth (triggers a global market for UK skills).

• UK-USA nuclear co-operation (inward investment and routes to market for US and UK supply chains).

This region of the north-west has a proud nuclear history, and strong support for new SMRs. This clean, always-on energy could be used to attract new industry to the region, creating long-term and high-value jobs for the community.

We have private funding available for this project, and a ‘memorandum of understanding’ with Rolls-Royce SMR for the technology.

The land that is suitable for the project is Government owned, and subject to a consultation about future land needs and possible uses for the site. When that consultation is done, we expect a decision on our being able to use the land, and are ready to progress the project as soon as we are able.

The potential social and economic outcomes are material, enduring and many. For example:

• Employment in the development and build phases.

• Secondary employment and inward investment during operation – in new sectors such as hydrogen, smart farming, data, etc.

• Regional community benefits including the opportunity for district heating from the warm water off-take.

• The host community will own an equity stake in the business.

Other sites have been identified within the North West and South West regions of England, where local authorities and private industrial land owners/developers have identified a long-term need for clean, sustainable power using small modular reactor power station designs.

There are clear drivers within the regions to support private sector investment in industrial hubs that support their sustainable development goals. These hubs are enabled through nuclear generated power.

CNP has identified private sector funders with available resource to deliver SMR projects, and is engaged in discussions with land owners and industrial developers to support the delivery of long-term, clean energy. In the North West, there are significant opportunities for SMR vendors with well-developed supply chain capability and experience to move through successful first deployment directly onto a second site, as part of a fleet deployment.