Business West, the organisation that runs Bristol Chamber of Commerce, has launched a project to help local firms benefit from the development of Hinkley Point C nuclear power station and make the city a centre of excellence for the nuclear industry.
Nuclear South West will bring together firms already operating in the sector with academics and other businesses to maximise opportunities linked to Hinkley Point C. Fifteen projects within the South West alone are estimated to be worth £50bn over the next two decades. Further contracts could be triggered by the massive project on the Somerset coast near Bridgwater – offering a once-in-a-generation chance for local firms. 
As well as seeking to ensure West of England firms benefit from the construction phase, Nuclear South West will also aim to develop and promote expertise in the Bristol on all aspects of nuclear power including decommissioning.
The nuclear industry employs around 7,700 people across the South West but Business West says in future it could need 42,400 person years of employment across the manufacturing, construction and operation sectors.
This is equivalent to the London Olympics- but with greater demand for higher and specialist skills.
The University of Bristol is a leading centre for nuclear research and has teamed up with the University of Oxford to form the South West Nuclear Hub, which incorporates the Bristol-Oxford Nuclear Research Centre.
The Hub works with the UK’s National Nuclear Laboratory to explore opportunities in joint research, R&D and training to support firms involved in the Government’s Nuclear Industrial Strategy.
The group has been launched days after Chancellor George Osborne announced that the Government will guarantee a £2bn deal to help fund the construction of the Chinese-backed nuclear plant near Bridgwater.
Speaking on a five-day trade mission to China, the Chancellor said the deal would pave the way for a final investment decision by French energy giant EDF and enable greater collaboration between Britain and China on the construction of more nuclear plants in the UK. Hinkley Point C will be built to a French design in partnership with two Chinese companies.
But its construction has been dogged by delays due to the complex negotiations over a guaranteed price for the electricity it will eventually produce. Its opening date has been put back several times with the latest of 2023 is now seen as ambitious.
The plant’s final go ahead is expected to be announced next month to coincide with a state visit to London by Chinese President Xi Jinping.
Hinkley Point C is expected to produce enough energy to supply 7% of the country’s needs, powering around 6m homes and creating more than 25,000 jobs.
Business West managing director Phil Smith said: “This news is the boost we needed after hearing that the investment decision has been pushed back and construction has been delayed. A £2bn commitment from government to help fund the construction of a key piece of the energy puzzle is a step in the right direction which will be welcomed by South West businesses.
“Nuclear South West will help organisations in the region benefit from the enormous opportunities that Hinkley Point C and other projects will bring. After the Government’s renewed commitment to nuclear energy, we now need to see local firms reap the benefits.”
Nuclear South West has been launched with Bristol firm Davies Nuclear Associates.
For further information on Nuclear South West, contact Jessica Vallentine in Business West’s policy team on jessica.vallentine@businesswest.co.uk or 07733 364401.
