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Business and Energy Secretary Kwasi Kwarteng announced backing for Small Modular Reactors in a scheme which also has £250million in private sector support.
The cash will help Rolls-Royce develop the design for one of the world’s first reactors of this type. It estimates each one could power a million homes. And they should be cheaper and easier to build than traditional nuclear plants.
Mr Kwarteng said: “It’s a once in a lifetime opportunity to deploy more low carbon energy than ever and ensure greater energy independence.”
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