Britain has made £ seventy five million ($90. 5 million) available to support the domestic production of nuclear fuel for power plants, the federal government announced on Monday.
The move is intended to help the UK develop alternatives to Russian gasoline supplies, according to a press release published on the website of the British government.
Companies involved in uranium conversion, a vital stage in the production of nuclear fuel, can make an application for grants from the fund to develop new conversion capacity in the united states.
“ This investment package will certainly strengthen the UK’s power security, by ensuring access to a safe and secure supply of UK-produced fuel to power the UK nuclear fleet of today plus tomorrow – squeezing away Russian influence, ” read the press release.
Around 20% associated with global uranium conversion capacity and 40% of richness capacity are owned simply by Russia, it added. In 2020, 16% of the Britian’s electricity came from its 6 nuclear power plants.
The fund has been announced after G7 frontrunners agreed in June to reduce reliance on civil nuclear and related goods through Russia.
Because of the global energy problems caused in part by sanctions imposed on Russia, a significant supplier, the UK has sought alternative sources of energy that would be reliable, affordable, low-carbon and generated in the country. According to the federal government, new nuclear capabilities invariably is an important part of the country’s generate to ensure greater energy independence.
Critics like Greenpeace, however , point out that nuclear power is extremely expensive, hazardous and gradual to build.