Holtec: Thousands of jobs as plan for £1.5 billion Small Modular Reactor factory in South Yorkshire announced

The American nuclear power firm Holtec has announced the plans, after selecting South Yorkshire ahead of other areas for the scheme.

The company has looked at a number of possible sites for the new factory but its location has not yet been revealed.

It would create parts for what are known as Small Modular Reactors (SMR).

The company says it is coming to the area because it has good transport links, is a good place to live, and has good research organisations and political support.

The factory will manufacture for the UK, Europe, and the Middle East.

Official estimates published as part of the announcement predict that the factory will add £1.5 billion to the South Yorkshire economy.

It is estimated that Holtec’s overall investment and the UK factory will generate:

● 3,000 engineering jobs over the next 20 years.

● 16,300 well-paid UK jobs in Holtec Britain’s SMR programme.

● £30 Billion export opportunity over the next 10 years.

● £50 million in UK skills and training.

Oliver Coppard, South Yorkshire’s Mayor, said: “In South Yorkshire, we’re building on hundreds of years of innovation and engineering heritage to create world leading facilities, skills and expertise today; assets that will power the clean energy transition in the UK and beyond. We are right at the cutting edge of the new nuclear, hydrogen and sustainable aviation sectors, and proud to be home to the largest clean tech sector in the UK.

“That’s why Holtec have chosen South Yorkshire as the home of their £1.5bn manufacturing facility, because they recognise we are the new home of the emerging clean energy sector in this country. Their decision to invest in South Yorkshire has the potential to support hundreds of high-paying jobs, while their SMR Learning Academy will help train the next generation of nuclear engineers and experts.”

Gareth Thomas, Director at Holtec Britain, said: “South Yorkshire overcame stiff competition from other areas of the UK to be our preferred location for our advanced SMR factory.

“Holtec Britain was impressed by the resounding interest in our new SMR factory across the UK and the strong support received by the local authorities during our engagements. However, after a rigorous process, South Yorkshire was finally selected as our preferred location. “

He said, in addition to the technical, supply chain, training, and logistics criteria for the formal evaluation, the company was also impressed by the history and pride of the people its officials met during their visit to South Yorkshire. They said it demonstrated the workforce really cared about the quality and reputation of their work.

Holtec say that translates to a workforce that can be trained and will remain committed to delivering the high-quality nuclear products that they and their customers demand.

Mr Thomas said the company was committed to creating high-quality local jobs, supply chain opportunities and partnerships that would help South Yorkshire grow and prosper.

Holtec is now working to finalise its factory business plan.

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South Yorkshire is already home to the a number of clean-tech industries, also including hydrogen and Sustainable Aviation.

Rolls-Royce SMR also chose South Yorkshire to become the home of its new multi-million pound facility earlier this year. Rolls-Royce SMR will manufacture and test prototype modules locally.

South Yorkshire was selected from a shortlist that also included the West Midlands, Cumbria and Tees Valley.

The UK government has said it believes that SMRs could play an important role alongside large nuclear as a low-carbon energy source to support a secure, affordable decarbonised energy system. SMRs are smaller in size and could use modular, off-site manufacturing for flexible deployment.

An Energy White Paper several years ago announced a Government intention to deploy a ‘First-of-a-Kind’ SMR by the early 2030s.

The Government said last year it would continue to progress work on key policy and market enablers, including finalising regulatory access, siting, and financing for SMRs.