In addition to new-build of traditional large-scale reactors, there is
significant interest worldwide in the potential for advanced nuclear
technologies, often divided into two groups:
i) Small modular reactors (SMR), which are similar to existing nuclear power station reactors but, on a smaller scale.
ii) Advanced modular reactors (AMR), which propose novel cooling systems or fuels to offer new functionality and potentially a step change reduction in construction and operating costs.
There
is a very diverse range of reactor types being promoted by vendors – with
outputs ranging from 4 to 400KW, a range of different fuels and coolants (e.g.
molten salts, liquid sodium), as well as fusion reactor concepts.
Within
Wales, there are significant economic development opportunities for Advanced
Nuclear Technologies, if we can secure R&D and first-of-a-kind deployment.
Smaller
reactors offer several significant benefits over larger reactors, with the
ability for multiple units to be manufactured under factory conditions,
improving quality and exploiting economies of scale. Financing is often the
most challenging aspect of new nuclear, and constructing multiple small units
on a site, can reduce the upfront cost and risk.
There
is a significant market for SMRs both in the UK and internationally. Regionally,
there could be a UK market for around 7GW of power from SMRs by 2035, based on
a demand for low-carbon generation and site availability. Rolls Royce predicts
a possible world SMR market of 85GW (equivalent to 193 of their SMR stations),
with the major markets being in China, the Middle East, USA, and Russia. Another
vendor, NuScale, estimate the world SMR Market to be worth £400bn by 2035.
We
have for some time been actively supporting the Snowdonia Enterprise Zone
Advisory Board in pursuing opportunities to deploy advanced nuclear technology
at Trawsfynydd. Substantial work has already been undertaken over the past 4
years to help de-risk the site (e.g. on the cooling capacity of Llyn
Trawsfynydd and on the transportation of large indivisible loads from the coast
to the site).
In
terms of supply chain opportunities, advanced technologies represent an
opportunity for significant job creation several years in the future.
Nevertheless, R&D and pre-deployment development work may provide nearer
term.
Progressing
SMR technology is a long-term agenda, however, the Trawsfynydd site is by now,
universally viewed as the lead site
for the deployment of first-of-a-kind advanced/SMR technology within the UK and,
should this be achieved, the long-term opportunities for the supply chain and
the North Wales economy as a whole, would be significant.