US Edition
Rolls-Royce wins UK small nuclear reactor deal
UNITED KINGDOM, JUN 10 – The UK plans to create 3,000 skilled jobs and generate low-carbon electricity for 3 million homes using Rolls-Royce’s small modular reactors, backed by £2.5 billion government funding.
- 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
We could be a key player in Chancellor’s £16bn plan for nuclear
The North East could be well-placed to play a major role in a nuclear future for the UK, after Rachel Reeves committed £16.7billion to nuclear power projects as the country shifts away from fossil fuels.
Cumbria could host the UK's first small nuclear reactors
New small nuclear reactors (SMR) could be built near Sellafield after the Chancellor announced the release of land next to the Cumbrian site for development.Rachel Reeves used the spending review to give significant government backing to new nuclear in a bid to move the country away from its dependence on fossil fuels. As part of the plans, the Government has unlocked land in Moorside, West Cumbria, which will now be developed and could become a…
NuScale Power (SMR) Stock Surges 20% Following Second NRC Design Approval
Shares of NuScale Power Corporation (NYSE: SMR) surged 20% in early trading today after the company announced that its upgraded Small Modular Reactor (SMR) design has received Standard Design Approval (SDA) from the U.S. Nuclear Regulatory Commission (NRC). This new approval, which covers a 77 megawatt electric (MWe) reactor module, marks a major regulatory milestone and reinforces NuScale’s leadership in the emerging SMR sector. NuScale remains…
Rolls-Royce Leads UK's Nuclear Innovation with SMRs
The UK government supports Rolls-Royce's venture to build the nation's first small modular nuclear reactors (SMRs) to enhance power network decarbonization. Blackstone plans European expansion with a $500 billion investment, while the EU imposes duties on Chinese plywood. The US and Switzerland resolve a data-sharing impasse.
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.
Coverage Details
Bias Distribution
- 77% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
