London: The United Kingdom has announced a significant initiative to construct three small modular reactors (SMR) with a total investment of GBP 2.5 billion, approximately USD 3.3 billion. This pioneering nuclear power project is set to be built on Anglesey, located in north Wales. The site has the potential to eventually host up to five additional stations of the same type, which are noted for being smaller and more cost-effective than traditional nuclear plants.
According to Kuwait News Agency, the construction is slated to commence next year, with expectations to generate at least 3,000 jobs. Once operational, the three reactors will have the capacity to produce enough electricity to power around three million homes. The government had previously disclosed in late June that Rolls-Royce had been selected to build these new-generation reactors in collaboration with the UK Nuclear Energy Authority.