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<p>In April Great British Nuclear (GBN) launched the first phase of the competitive
process to select the best Small Modular Reactors technologies in the form of a market
engagement exercise. The second phase – the down-selection process - will be launched in
the summer, with an ambition to decide on the leading technologies by autumn.</p><p>
</p><p>The market engagement exercise will help GBN to improve its understanding of
market capability and technical offering of the full vendor community, the financial
position of potential projects, and potential delivery models.</p><p>The Government
will provide co-funding that will be deployed by GBN and will work with successful
bidders on ensuring the right financing and site arrangements are in place, in line
with its commitment to take two Final Investment Decisions next parliament.</p>
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