BEIS is providing up to £120 million in funding to help mature nuclear projects ahead of the government selection process.
Award: Share of up to £120 million
Opens: 6th Sep 2022
Closes: 21st Oct 2022
BEIS is providing up to £120 million in funding to help mature potential nuclear projects ahead of the expected government process to select the next nuclear projects. The bid window for applications is now open.
The aim of the FNEF is to help industry reduce project risks, so they are better positioned for future investment decisions. The FNEF will be targeted at applicants that could be in a position to take a Final Investment Decision within the next parliament, subject to Value for Money and all relevant approvals.
BEIS expect the fund to support a limited number of nuclear projects through grant funding to be awarded following a competitive process.
For further information and eligibility see application guidance notes here
Activities already in receipt of government funding – work packages supporting existing activities that are already in receipt of government funding are not eligible to apply.
Existing projects or power stations – work packages relating to existing nuclear power stations or existing nuclear power station projects are not eligible to apply.
Applicants should describe how work packages will help enable FID within the required timescales and make clear what
portion of the £120m they are seeking.
The opportunity to apply to the fund will be available for a fixed period of time and applicants must submit their applications before the advertised deadline.
After the conclusion of the quality assessments, subsidy control assessments, PSED consideration and – if enacted – the portfolio approach, senior officials will be presented with the full results of all assessments and considerations. Senior officials will then make a recommendation to a Minister on which projects to award funding. Ministers will make the final decision on which applications are offered grant funding.
Book an appointment to speak to one of our advisors to discuss your eligibility to apply for this Grant Funding opportunity.