Rolls-Royce Gets UK Government Backing To Develop Small Nuclear Reactors
Image via Rolls-Royce SMR
The UK Government has awarded a £210 million (US$285 million) grant to Rolls-Royce for the creation of a Small Modular Reactor (SMR) business, together with an additional £195 million (US$265 million) of capital support from private businesses.
This initial investment will allow the firm to work on the design of the SMR, as well as enable regulatory tests to determine if the power stations will be suitable for use in the UK. In addition, the brand will select specific manufacturers around the country to create the reactors’ parts.
According to the BBC, small modular reactors are nuclear fusion reactors with less footprint, and the firm expects them to occupy one-tenth of the space taken up by a conventional nuclear plant. It’s posited that a single power station could generate 470 megawatts of power, enough energy for a million homes in the country.
Tom Samson, Chief Executive of Rolls-Royce SMR, said he hoped the project would “deliver a low cost, deployable, scalable, and investable program of new nuclear power plants,” to drive the UK towards its net-zero emission targets.
As per The Guardian, the company aims to build five SMRs, the first of which is planned to be up and running by 2031, with 16 power stations as the eventual goal. Currently, one-fifth of the nation’s electricity is generated by 13 existing nuclear reactors, but over a half of its capacity is slated to retire by 2025, which could result in a surge in gas power stations, hence the need for the new project.
The UK’s Business Secretary, Kwasi Kwarteng, said the move to nuclear energy was “a once-in-a-lifetime opportunity for [the country] to deploy more low carbon energy than ever before, and ensure greater energy independence.” Plus, Rolls-Royce’s SMR project would “offer exciting opportunities to cut costs and build more quickly,” while reducing the nation’s reliance on fossil fuels and gas power stations.
“Not only can we maximize British content, create new intellectual property and reinvigorate supply chains, but also position our country as a global leader in innovative nuclear technologies we can potentially export elsewhere,” he explained.
[via BBC and The Guardian, cover image via Rolls-Royce SMR]
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