LONDON. As COP26 in Gasglow enters the heart of final negotiations, Rolls-Royce has announced the future production of small modular nuclear reactors (SMRs) to generate “clean” energy and create 40,000 jobs by 2050. A allowing the launch in the nuclear sector of the historic British car manufacturer was a consortium of private investors, with an investment of 195 million pounds, and the same government that granted a 210 million grant. Critical voices from those hoping for the development of renewable energy sources instead of increasing nuclear power were not long in coming. Small modular reactors are nuclear fission reactors but are smaller than conventional ones.
The investment from Rolls-Royce Group, BNF Resources, Exelon Generation and the government will go into the development of Rolls-Royce’s SMR design and take it through regulatory processes to assess whether it is suitable for UK distribution. Most of the firm’s investments are expected to be concentrated in the North of the UK, where nuclear expertise already exists. Rolls-Royce SMR said one of its power plants would occupy about one-tenth the size of a conventional nuclear power plant – the footprint equivalent to two football fields – and power about a million homes. The company then reported that a plant would have the capacity to generate 470 MW of power, equal to the same energy produced by more than 150 onshore wind turbines. After the announcement, the Rolls-Royce share price jumped 4.2% to 147.85p each. Currently, around 16% of UK electricity generation comes from nuclear power.