The UK has pledged to invest nearly €250 million in nuclear energy. The investment should help the country achieve its ambition to be climate neutral by 2050.
The money will go to the engine manufacturer Rolls-Royce, which, among other things, builds nuclear reactors for British nuclear submarines. The company is leading a consortium that aims to have the UK’s first called a small modular nuclear reactor by 2030.
Faster and cheaper to build
These small modular reactors (SMR), which are currently being developed in many countries, are cheaper and faster to build than conventional nuclear power plants. For example, reactor parts can be built in factories and transported via trucks, ships or freight trains to the site where the reactor will be located. The reactor can then be assembled on site.
According to Rolls-Royce, the total reactor construction time is four years. Tom Samson, Rolls-Royce’s head of SMR project, called the public investment “great news” in a press release.
British Energy Secretary Quarting sees small reactors as opportunities to provide British households with green energy while at the same time reducing the use of fossil fuels.
At the moment, investors only seem reluctant to invest in large, new core technology initiatives. Thanks to British government money, the Rolls-Royce SMR project should be able to take the next steps more quickly.
