Kier says appointed by UK's 'flagship' STEP fusion energy programme
Kier Group PLC on Monday said it secured a multi-year revenue stream.
The Manchester, England-based infrastructure services, construction and property investment business said it has been appointed by UK Fusion Energy as construction partner for the Spherical Tokamak for Energy Production fusion programme also known as STEP.
Kier said it was appointed as part of ILIOS, a consortium led jointly by Kier and Nuvia, with specialist support from AECOM, AL_A and Turner & Townsend.
The consortium will support the first three-year £200 million tranche of the programme to design and build a prototype fusion energy plant at West Burton in Nottinghamshire, is part of a wider programme with future opportunities of up to £10 billion. At its peak, the project will support up to 8,000 onsite jobs.
Kier said: ‘This appointment strengthens Kier’s long?term revenue visibility in one of its strategic growth markets, aligning with our focus on complex, regulated infrastructure.’
Kier Chief Executive Officer Stuart Togwell said: ‘STEP is exactly the type of long?term, complex national infrastructure programme our teams are well?placed to deliver, and it adds further high?quality opportunity in a sector where we see clear growth as fusion moves towards commercial viability. We’re proud to be appointed as construction partner as part of the ILIOS consortium and to support the UK’s clean energy transition ambitions through this world?first project.’
Kier shares were 0.7% higher at 215.50 pence each on Monday afternoon in London.
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