Author: Power Peak Digest Team Pub Date: January 17, 2025
The UK government has unveiled a £410 million ($501.1 million) investment to advance fusion energy development. The funding will support the construction of a fusion power plant at the site of a former coal facility in Nottinghamshire, as part of the government’s Plan for Change initiative to drive economic growth and position the UK as a leader in fusion energy.
The investment will accelerate progress in the fusion energy sector from 2025 to 2026 and create thousands of jobs. It also focuses on developing skills for scientists, engineers, welders, and programme managers.
UK Industrial Fusion Solutions (UKIFS) has shortlisted industry leaders for the construction of the Spherical Tokamak for Energy Production (STEP), a prototype fusion energy plant slated for completion by 2040. Five construction and engineering bids have advanced to the next stage of the competition, with contracts worth hundreds of millions of pounds expected to be awarded in late 2025 or early 2026.
The Nottinghamshire project aims to revitalise former coal communities by creating skilled jobs and establishing a clean energy industry.
Additionally, the government has proposed the UK’s first AI Growth Zone at the UK Atomic Energy Authority’s fusion energy campus in Culham, Oxfordshire. The AI initiative will enhance fusion research and computing power while supporting the UK’s national AI infrastructure.