UK Government announces £12bn Ten Point Plan for net-zero transition

Urenco is encouraged by the UK Government’s announcement of significant investment in realising net zero targets by 2050, with recognition of the valuable role nuclear can play.

Part of the Green Industrial Revolution, there is around £4bn of new funding on top of funds already announced. £525m is being dedicated to nuclear to scale up large nuclear generation while also developing small and advanced reactors, and we look forward to seeing the detail, which will be in the forthcoming Energy White Paper.

Also of note is that £500m will be invested to generate 5GW of “low-carbon” hydrogen production capacity by 2030.

Further sums are focused on offshore wind, decarbonising transportation and heating and enhancing carbon capture and storage.

The plan, which comes ahead of the COP26 climate summit in Glasgow next year, also has a focus on “levelling up” all areas of the country, including such areas as Merseyside.

Emilie Isaacs, Urenco’s Head of Government Affairs, said: “Urenco is excited about this much-anticipated announcement for many reasons. It shows the Government taking an inclusive and realistic approach to achieving climate change goals, using all low carbon technologies.

“Urenco strongly believes that nuclear perfectly complements renewables and hydrogen in a net zero world and these three technologies are the future of energy provision. Nuclear can also assist with the efficient and low carbon production of hydrogen, making the partnership even stronger.

“We are also encouraged by the messages on levelling up. With one of our four enrichment sites in Cheshire, and twenty five per cent of Urenco’s fuels production based in the UK, we are providing skilled, well-paid jobs and a high proportion of our supply chain spend for our UK companies within the region.”

Read the full UK Government announcement

Share Article