The UK has invested £300 million ($381 million) in the domestic production of high-assay, low-enriched uranium (HALEU), the Department for Energy Security and Net Zero (DESNZ) announced on Sunday.
Britain is one of more than 20 countries, including the US, France, and South Korea, which have recently pledged to triple their global nuclear capacity by 2050 as part of international efforts to reduce climate-damaging carbon emissions.
Overview
HALEU is a specialised fuel used to power most modern nuclear reactors that are currently solely produced commercially in Russia. Since the beginning of its full-scale invasion of Ukraine, the UK and the EU have attempted to reduce their energy dependence on Russia.
According to the statement released by the DESNZ, “the HALEU plan will allow the UK to supply the world with specialist nuclear fuel and further isolate Putin’s Russia.”
“The landmark £300 million investment is part of plans to help deliver up to 24GW of clean, reliable nuclear power by 2050 - a quarter of the UK’s electricity needs,” the statement said.
Per the statement, an additional £10 million will be granted to develop the skills and sites necessary to produce further advanced nuclear fuels in the UK, thus securing long-term domestic nuclear fuel supplies and supporting international allies.
The DESNZ believes that such plans will help develop new sources of affordable and clean domestic power, ensuring that the transition to net zero does not result in higher prices and protects households from worldwide instability.
The first plant in the North West of England, a nuclear fuel manufacturing hub, is expected to be operational by the early 2030s. This will support local industry and jobs while also contributing to the UK and international nuclear resurgence, the statement read.
⚡UK invests 300 million pounds in nuclear fuel, eroding Russia's dominance.
— The Kyiv Independent (@KyivIndependent) January 7, 2024
The U.K. is investing 300 million pounds ($381 million) into the production of high-assay low-enriched uranium (HALEU) as a part of a larger bid to cut dependence on Russia.
UK to Counter Russia’s Nuclear Fuel Production
“We stood up to (Russian President Vladimir) Putin on oil and gas and financial markets, we won’t let him hold us to ransom on nuclear fuel,” said Claire Coutinho, the UK’s Secretary of State for Energy Security and Net Zero.
“Britain gave the world its first operational nuclear power plant, and now we will be the first nation in Europe outside of Russia to produce advanced nuclear fuel,” Coutinho claimed.
“This will be critical for energy security at home and abroad and builds on Britain’s historic competitive advantages,” she explained.
Reports indicate that Britain considers nuclear power revival as a key component of its long-term energy plan, which began last year, to construct small modular nuclear reactors (SMRs).
Such reactors are designed to be easier and cheaper to produce, thus avoiding the high expenses and construction delays that have resulted in a decades-long stagnation in the expansion of global nuclear power capacity.
“The UK’s efforts to displace Russia from the global nuclear fuels market, particularly in uranium conversion services, where the government and industry are investing up to £26 million,” aims to bring this expertise back to the UK by the end of the decade, the statement concluded.