The United Kingdom said on Monday that its £75m (US$90.5m) fund – aimed at helping Increase local production Gas Nuclear power plant energy and reduce dependence on Russian uranium supplies– It was already open for applications.
According to Reuters, the fund, which was announced in July 2022, It will award grants to companies working in the field of uranium conversionIt is an essential stage in the process of producing nuclear fuel from metal.
This will remain open for applications from Monday to February 20th.
It should be noted that Russia currently has about 20% of the world’s uranium processing capacity.
Securing Power Supply, British Focus
“Record global petrol prices, triggered by Putin’s illegal invasion of Ukraine, have highlighted the need for more domestic renewable energy, as well as UK-generated nuclear power – building more plants and developing domestic fuel capacity,” said the Energy and Climate Secretary. Graham Stewart.
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According to information from Reuters, Up to £13m of the fund has already been donated to the Springfields nuclear fuel manufacturing site In the northwest of England, government sources said.
It must be said that energy supplies have become a major focus since the invasion of Ukraine raised costs significantly.
The planned additions to nuclear electricity generation capacity will reduce Britain’s reliance on natural gas, which powers about 45% of generation in 2021.
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The UK indicated in November 2022 that it would become a 50% shareholder in the Sizewell C nuclear project by providing £700m in financing for the plant, which is planned in the southeast of England.
(With info from Reuters)
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