Sign in Subscribe
Nuclear energy

Rolls-Royce Holdings PLC Selected to Build UK's First Small Modular Nuclear Reactors

Strategic Insights

— 1 min read

The UK government has confirmed that Rolls-Royce Holdings PLC's Rolls-Royce SMR arm has been selected as a single preferred bidder to partner with Great British Energy's nuclear wing to build the country's first small modular nuclear reactors. This decision comes with a £2.5 billion pledge from the government for the overall SMR programme. The project aims to create thousands of jobs and contribute to the country's energy security.

Key Takeaways:

  • Rolls-Royce Holdings PLC's Rolls-Royce SMR arm has been selected as a single preferred bidder to partner with Great British Energy's nuclear wing to build the country's first small modular nuclear reactors.
  • The UK government has pledged £2.5 billion for the overall SMR programme in the current spending period.
  • Great British Energy plans to allocate a site to build the first SMR later this year, with the plant to be connected to the national electricity grid in the mid-2030s.
  • The project is expected to create thousands of jobs and contribute to the country's energy security.
  • Rolls-Royce SMR has been recognized as a differentiated design with a compelling offer, with a previous contract to build a plant in the Czech Republic and a new contract with Great British Energy.
  • Shares in Rolls-Royce Holdings PLC rose 2% to 905p, up over 700% in the past five years.

Statistics:

  • £2.5 billion: the amount pledged by the government for the overall SMR programme.
  • 2030s: the expected timeframe for the plant to be connected to the national electricity grid.
  • 2%: the percentage increase in shares in Rolls-Royce Holdings PLC.
  • 700%: the increase in shares in Rolls-Royce Holdings PLC in the past five years.
  • £4.2 billion: the total amount allocated for the Sizewell C nuclear power station and the small modular reactors programme.

Sources:

  • "Rolls-Royce SMR wins UK government contract for small modular nuclear reactors" by Telegraph
  • "Government to give Rolls-Royce £2.5 billion to build UK's first small nuclear reactor" by Sky News
  • "Rolls-Royce SMR wins UK government contract for small modular nuclear reactors" by The Times

Read more