The Future Nuclear Enabling Fund is opening for bids in a move that has been welcomed by the Welsh Conservatives.
The £120 million fund from the UK Government will enable nuclear developers to start developing in-depth proposals and make it easier for new companies to enter the market.
The announcement was marked by a visit to the Wylfa nuclear site in Anglesey by Kwasi Kwarteng, Secretary of State for Business, Energy and Industrial Strategy and Greg Hands, Energy Minister.
Welsh Conservative Shadow Minister for the Economy, Paul Davies MS, said:
“This is excellent news for Wales and an important part of a greener, cleaner future.
“It shows the ambition of the UK Government’s Levelling Up agenda, which has already brought £121 million to Wales through the Levelling Up Fund, £46 million through the Community Renewal Fund and £464,258 from the Community Ownership Fund.
“It us a good example of what can be achieved when the UK and Welsh Governments work together, and I hope to see Labour ministers in Cardiff Bay continue to work constructively with the UK Conservative Government.”