The UK’s new nuclear build programme presents significant opportunities for the country’s supply chain but more support is needed from industry and government.
That’s according to a new report from EY, which suggests the approaching decade will be critical to increasing capacity and meeting energy demand, which is expected to rise by 20% over the next 20 years.
All but one of the UK’s nuclear plants are planned to close by the end of the 2020s – EY says this means new nuclear is essential.
The government estimates investment of more than £45 billion will be needed to develop the first three nuclear power plants at Hinkley Point C, Wylfa Newydd and Moorside.
The report stresses the nuclear supply chain needs visibility of project pipelines to give it the confidence to invest and suggests the sector must recruit 8,600 people each year to ensure a skilled workforce is maintained.
Chris Lewis, EY’s UK and Ireland Infrastructure Lead, said: “We need a model where the supply chain has the confidence from a clear pipeline of new build contracts, a unified industry championing the UK’s expertise and credentials and investors are motivated and clear on the domestic and export opportunities.”