The “growing global significance” of the £50bn South West nuclear sector has been underlined by a new surge in overseas interest in the region.
Nuclear South West, the public-private partnership organisation which champions the region, said it has received a steep rise in calls from companies in mainland Europe and as far as India keen to set up camp in the South West.
The organisation said the South West is set to become a nuclear hub in the next two decades, with projects worth £50bn to the economy currently under way.
Hinkley Point C in the news
Matt Tudge, Nuclear South West’s inward investment specialist, said the spike in inquiries is from firms interested in establishing themselves in the region or expanding existing operations.
They are requesting support in securing premises, including warehouses and office space. Areas of particular interest include in and around Bridgwater, due to the construction of the Hinkley Point C power plant, and in Bristol, where EDF’s EPR Design Centre is attracting the world’s top advanced nuclear engineers.
As well as the pull of the live supply chain for new nuclear power around Hinkley Point C, Mr Tudge said a cluster of “brilliant assets like the Somerset Energy Innovation Centre and our universities and colleges”, such as the universities of Bristol and Plymouth, are also proving to be a powerful pull.
“The South West is attracting more and more potential investors from across the nuclear industry which underlines the region’s vibrancy and growing global significance on the world nuclear map,” Mr Tudge said.
“Over the last couple of months, we’ve been dealing with a sharp rise in inquiries from firms outside the 海角视频 who have been in touch looking to set up camp here.
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“In many cases, overseas companies are looking to partner with the local nuclear supply chain to form joint ventures to accelerate activity and hit the ground running.
“It would be imprudent to go into too much detail but suffice to say June and July have been four times as busy for us as it was the first quarter of the year, which is very encouraging.”
Mr Tudge said the rise could be linked to “pent-up demand due to Covid” and due to the economy settling down in the post-Brexit world.
“With lockdown ending, Covid-19 seems to have highlighted that if something as big as a pandemic strikes, it can be tough to fulfil contractual obligations,” Mr Tudge added.
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Business Live's South West Business Reporter is William Telford. William has more than a decade's experience reporting on the business scene in Plymouth and the South West. He is based in Plymouth but covers the entire region.
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“It makes sense to have a significant local presence here in the South West to be near Hinkley Point C as it enters its MEH (Mechanical, Electrical and HVAC - heating, ventilation and air conditioning) phase but also to be close to EDF’s EPR Design Centre in Bristol which is masterminding new nuclear build. It’s fair to say that if you want to work in nuclear in Europe, then you should come to the 海角视频 and in turn if you come to the 海角视频 then you should head to the South West because this is where the nuclear renaissance is happening.”
Nuclear South West is a partnership of industry, academic and public sector, set up to champion the South West nuclear industry as the premier destination for investment, innovation and growth. It is established and supported by the Heart of the South West, West of England and GFirst LEPs, with involvement from public sector and strategic organisations. Nuclear South West’s Stakeholder Alliance Group includes a SW Nuclear Hub, led by the University of Bristol and also including the University of Plymouth, University of the West of England and University of Southampton.