A consortium led by Rolls-Royce has asked for more than £200m in government funding to help develop its project for small nuclear reactors, as ministers scramble to recast Britain’s energy policy after the collapse of plans to build several large reactors. The engineering group and its partners, which include Laing O’Rourke and Arup, want to secure a sum “in the low hundreds of millions”, confirmed one person with knowledge of the request. Any amount would be match-funded by the consortium and be used to develop Rolls-Royce’s technology through to the later stages of the licensing process in order to be able to attract private investment. Supporters of small modular reactors – most of which will not be commercial until the 2030s – argue that they can deliver nuclear power at lower cost and reduced risk. They will draw on modular manufacturing techniques that will reduce construction risk, which has plagued larger-scale projects. The consortium has applied for funding from the government’s industrial strategy challenge fund under UK Research and Innovation. The money would enable the group to develop its design through to the later stages of the “generic design assessment” by the industry regulator. Industry sources with knowledge of the bid said the consortium “entered detailed negotiations” with UKRI before Christmas. Rolls-Royce has previously said it believes its reactor would cost about £2.5bn to build.
FT 27th Jan 2019 read more »
Bloomberg 27th Jan 2019 read more »