NUCLEAR investment worth billions planned in Wales over the next 20 years could be a ‘once in a generation’ opportunity, a report said.

Wales needs to grasp it, the independent report by Miller Research, commissioned by the Welsh Government, concluded.

Published today, the document sets out how capable businesses are of making the most of opportunities in the nuclear supply chain.

It highlights the planned potential business prospects but also cautions that Wales could miss out if companies fail to take advantage of the opportunities.

Estimates suggest that planning and construction costs for Wylfa Newydd power plant on Anglesey will be in the region of £14billion (up to 2024 and allowing for inflation), while a further £3.7 billion will be contributed (up to 2033) once operational.

It is estimated that 34 per cent of the new build cost could be spent in Wales and at its peak in 2021 some 6,800 people are expected to be employed constructing the plant. The operational workforce is expected to be at its highest at 875 in 2025.

Decommissioning at Wylfa is expected to contribute £630 million to the Welsh economy over twenty years, with an additional £310 million contribution expected from the continuing decommissioning at Trawsfynydd between 2013 -2033.

The total contribution to the Welsh economy from planning, building, operation and decommissioning is forecast to be some £5.7billion between 2013 and 2033 representing 0.5 per cent of total Gross Value Added (GVA) in Wales over this 20 year period.

Economy minister Edwina Hart said: “This report clearly illustrates the scale of the potential investment, the opportunities for Welsh businesses and some of the issues and perceptions that need to be addressed in order to maximise the potential benefits.

“It is a once in a generation opportunity and a concerted effort is needed across the board – by businesses and industry and the public and private sectors if we want to ensure that as much of that investment as possible in spent in Wales.

“Businesses need to be fully involved if they want to reap some of the potential benefits and a range of support is available through the Welsh Government to help them up their game and I would encourage any interested companies to take advantage of this help”

Commenting, Carole Jacob, of Friends of the Earth Torfaen, said: “Friends of the Earth is opposed to nuclear power as an energy source as it is unsustainable and a hazardous use of resources.”

“There is no safe storage and no one addresses this when they talk about the wonders of nuclear.”

She said that economic opportunities for employment in Wales are abundant in renewable energy and the Welsh government needs to attract investment into these.

“No one talks about how much the UK government subsidises the nuclear industry- they only say we have to keep the lights on- as if we couldn’t manage to do so any other way,” she said.