Billionaire-backed initiative targets UK with $47 billion mini nuclear power fleet, positioning UK as test-bed for SMR-to-datacenter economics.

Polish billionaire Michał Sołowow is spearheading a consortium of private investors to deploy a £35 billion (US$47 billion) small modular reactor (SMR) fleet across the United Kingdom. SGE SMR U.K., the project developer, is backed by parent company SGE, GE Vernova Hitachi Nuclear Energy, Samsung C&T, Laing O'Rourke, Aecon Group Inc., Fermi Development, Etara, and an unnamed but "experienced" nuclear operator. The consortium has submitted an application under the U.K.'s Advanced Nuclear Framework to develop 14 SMRs with a combined capacity of 4.2 gigawatts, which could supply approximately 11% of the country's power demand for at least 60 years.

The first project will be constructed at Oldbury, a former nuclear power plant site, at a cost of US$20 billion and will generate 1.8 GW. The facility will house six 300-megawatt units initially, with two additional projects each containing four units to follow. Final site negotiations are ongoing; the company will announce locations and the project operator in the near future.

All projects will deploy the BWRX-300, a 300-MW water-cooled, natural circulation SMR from GE Vernova Hitachi Nuclear Energy, based on the Economic Simplified Boiling Water Reactor design with passive safety systems. The BWRX-300 completed Step 2 of the U.K.'s Generic Design Assessment in December 2025 and has already been cleared for use in Canada.

SGE has invested £50 million (US$66 million) to reach the application stage and is simultaneously developing six proposed projects in Poland valued at over US$30 billion. Sołowow stated: "We are focused on delivering efficient, safe, affordable, and clean nuclear energy power at fleet scale. The U.K. is home to one of the world's most experienced nuclear workforce and the British Government has provided a clear path to market with the Advanced Nuclear Framework. Because of this, I am confident we will set a new standard for nuclear development by combining our disruptive business model with the BWRX-300's tenth generation proven technology. We will rely strongly on the UK supply chain; it is a critical element for our project."

This initiative competes alongside Rolls-Royce SMR, currently the only developer to have completed all three stages of the U.K. assessment with its 470-MW pressurized water reactor design. The government selected Rolls-Royce in June 2025 after a competitive bidding process against Holtec International, GE-Hitachi Nuclear Energy International, and Westinghouse Electric Company. The government has committed £2.5 billion (US$3.4 billion) to its SMR programme over the next four years, with Wylfa in Wales designated for the first deployment using three Rolls-Royce SMR units, capable of powering approximately 3 million homes. Five other SMR projects are planned across the U.K., including Wylfa, representing US$35 billion in total investment.