The UK nuclear power industry has received positive investment news today with the announcement that Lloyds Bank will make £100m available to small businesses in the nuclear supply chain serving Hinkley Point C nuclear power plant.

Meanwhile Japanese media are reporting that the British government are offering £13.3bn in financial support to Hitachi to build nuclear reactors in Wales.

The country’s nuclear reactor fleet is ripe for replacement, a critical development as 20 per cent of the country’s capacity is set to go offline by 2025.

The British government is offering support in loans and other ways to Hitachi unit Horizon Nuclear Power to cover a large proportion of the cost of its Wylfa Newydd project in Wales, Kyodo reported, citing a source close to the matter.

A spokesman for Britain’s Department for Business, Energy and Industrial Strategy said: “Discussions are commercially sensitive and ongoing, we have no further details at this time.”

Meanwhile a £100m fund has been launched by Lloyd’s Bank dedicated to help small businesses take advantage of supply chain opportunities during the construction of the Hinkley Point C nuclear plant in southwestern England.

The fund will help small to medium-sized enterprises (SMEs) across Britain access discounted lending and take part in the project.

The fund can also be used by businesses that provide indirect services to the power plant, Lloyds said in a statement.

Hinkley Point C in Somerset is due to come online by the end of 2025 and will be the first nuclear plant built in Britain for decades.