A model of an Ultrafan on the Rolls-Royce Holdings PLC is on day two of the Farnborough International Airshow in Farnborough, UK, on Tuesday, July 23, 2024.
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The British space group Rolls-Royce received support from the British government on Tuesday to build the first small modular nuclear reactors in the country.
The announcement follows a two-year selection process and confirms the British embrace of nuclear energy, especially because it also promised on Tuesday to invest £ 14.2 billion ($ 19.2 billion) to build the large Sizewell C electricity power plant in Eastern England.
UK Energy Secretary Ed Miliband said that plans to build the very first small modular reactors (SMRs) of the country, create thousands of jobs, support regional economies and strengthen energy breach.
“We end the no-nuclear status quo as part of our plan for change and start a Golden Age of Nuclear with the largest building program in a generation,” said Miliband.
The Great Britain, Center Left Labor government, said that the plans can support up to 3,000 jobs and the equivalent of 3 million houses as soon as the SMRs are connected to the schedule in the middle of the 2030.
Rolls Royce welcomed the decision of the British energy company of the British state, Great British Energy – Nuclear, to build three SMR units. The FTSE 100 group said that it is a “very important milestone” for the company and Rolls-Royce SMR.
“It is a voice of trust in our unique nuclear capacities, which will be recognized by governments around the world,” said Tufan Erginbilgic, CEO of Rolls-Royce, in a statement.
“It is also evidence that the strategic choices we have made in the transformation of Rolls-Royce,” he added.
Rolls Royce shares rose more than 2% on the news and recorded a new 52 weeks high.
The British government said that it is planning to sign a contract with Rolls-Royce SMR and to allocate a site later this year, subject to approval of the regulations.
Division of energy source
SMRs promise to have smaller and lighter footprints than traditional plants, making them possible to build cheaper and faster when they are fully commercialized.
Amazon and Google signed both deals last year to develop SMRs in the US, because technical giants are increasingly turning to nuclear to meet the growing energy requirements of data centers.
Because it is low in low, proponents claim that nuclear energy has the potential to play an important role in helping countries to generate electricity while they cut emissions and reduce their dependence on fossil fuels.
However, some environmental groups warn that the nuclear industry is an expensive and harmful distraction for cheaper and cleaner alternatives.
