A £120 million government fund designed to unlock and accelerate new nuclear technologies while encouraging new players into the market opened in mid-May.
The Future Nuclear Enabling Fund (FNEF) will help to realise the government’s ambition to approve 8 new reactors by 2030, as committed to in the British Energy Security Strategy in April.
FNEF will provide targeted, competitively-allocated government grants which will help nuclear construction projects, including small modular reactors, to attract the private investment they need to help make them a reality.
The government asked interested parties to register their interest in bidding for funding and inviting further information on potential future projects
The primary aim of the Future Nuclear Enabling Fund is to provide targeted support to address barriers to entry to the UK market by providing competitively-allocated grant funding to nuclear projects with credible proposals. In this way, the FNEF will accelerate the commercialisation of different technologies and help companies demonstrate readiness for the UK market.
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