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Rolls-Royce wins UK small nuclear reactor deal
- On Tuesday, July 23, 2024, Rolls-Royce was announced as the exclusive victor in the UK design competition for small modular nuclear reactors held in Farnborough.
- The announcement follows a two-year government-led procurement process launched in July 2023 aimed at accelerating Britain’s first mini nuclear reactors.
- The UK plans to invest £2.5 billion over four years into Rolls-Royce’s SMR programme which could create 3,000 jobs and supply power for three million homes by the mid-2030s.
- Energy Secretary Ed Miliband announced that the UK is moving beyond its previous stance against nuclear power, with SMRs enhancing energy security, while Rolls-Royce CEO described the development as an important achievement for the company.
- This deal marks a strategic shift endorsing British engineering and supports plans for cleaner energy with SMRs faster to build and smaller than traditional plants.
52 Articles
52 Articles
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Rolls-Royce Leads UK's Nuclear Innovation with SMRs
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Rolls-Royce Nuclear May Eventually Top £10 Billion, Analyst Says
The UK’s decision to pick Rolls-Royce Holdings Plc for the development of its first small modular reactors may lead to a nuclear business worth £10 billion ($13.5 billion) in the next few years, according to a Morgan Stanley analyst.
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