Kingmoor Park Reaches Final Stage in Holtec Britain’s Competition for SMR Factory Site
Kingmoor Park is one of the four finalists in Holtec Britain’s competition to select a new factory and production site to build a fleet of Small Modular Reactors (SMRs) destined for deployment in the UK, Europe, and the Middle East.
At the beginning of the year, Kingmoor Park submitted an Expression of Interest to host the factory, which was assessed on deliverability, connectivity, regeneration potential, skills and research, and quality of life. Out of 13 businesses and local authorities that applied, Kingmoor Park is one of four to reach the final stage.
If successful, Kingmoor Park will benefit from an initial investment of £1.3 billion, reflecting Holtec’s budget for construction. The development and operation of the 20-hectare site is anticipated to directly generate thousands of jobs over the next 15 years and contribute approximately £1.5 billion in Gross Value Added (GVA) to the economy of the selected location.
Small Modular Reactors (SMRs) are crucial for helping the UK achieve its net zero and energy security goals, in line with the Government’s target of 24GW of nuclear capacity by 2050 (approximately 25% of the UK’s electricity demands).
According to new economic analysis by Chamberlain Walker, the planned factory will be part of an export market potentially worth hundreds of billions leading up to 2050. The site is expected to produce 2-4 reactors per year, each valued at £1-2 billion. The factory site will not handle any nuclear fuel.
Cumbria has a long history with the nuclear industry, and this project would further strengthen the region’s nuclear expertise and infrastructure, providing substantial benefits to the local community and enhancing its role in the UK’s nuclear future.
Commenting on the news, Neil McIntyre, Managing Director at KPPL, said:
“Being shortlisted for Holtec Britain’s competition is a significant milestone for Kingmoor Park and for Cumbria. It promises substantial economic benefits, including job creation and increased local investment, while enhancing our reputation as a key growth hub. Hosting the SMR production site would drive infrastructure development, support global efforts for cleaner energy, and position both Kingmoor Park and the local region for future growth in the nuclear and energy sectors.”
Holtec’s Senior Adviser in the UK, Professor Dame Julia King FRS FREng, Baroness Brown of Cambridge said:
“We were very pleased to receive 13 detailed responses from partners across the country backed by local MPs and leaders of Local and Combined Authorities.We have now chosen the four leading bids and in the next few months I look forward to visiting all four locations and working with the team assessing the bids with a view to making successful final selection.The impact on the local economy for the successful bidder will be game changing.
The construction phase is anticipated to directly generate around 3,600 jobs, while the manufacturing operations will sustain up to 400 jobs annually.The UK target of net zero by 2050 is one we must meet. Nuclear will play an important role in meeting that target, in the UK and globally. The Holtec Small Modular Reactor offers safe, reliable and clean baseload capacity based on existing proven technology.”
It is expected the winner will be announced in the Autumn.