The deal, which is set to be finalized by the end of 2025, will see Siemens Energy providing steam turbines, generators, and other support systems for Rolls-Royce SMR’s upcoming Generation 3+ modular nuclear power plants.
Chris Cholerton, CEO of Rolls-Royce SMR, mentioned that this partnership will create jobs in the UK and open up various manufacturing opportunities, reinforcing their status as a leader in SMR technology in Europe.
These small modular reactors are being developed by global nuclear energy companies to create power plant technology that’s easier to replicate, quicker to build, and more cost-effective than traditional large plants.
Karim Amin, a board member at Siemens Energy, noted that we’re witnessing a global revival of nuclear energy, with many countries looking to nuclear tech for low-emission electricity, and SMRs will be crucial in this shift.
Rolls-Royce SMR, primarily owned by Rolls-Royce, with minority stakes from Qatar, Constellation Energy, and BNF Resources, is among the contenders in the UK for SMR development.
In October, electricity producer CEZ announced it would acquire a minority stake in Rolls-Royce SMR, whose reactors can generate up to 470 megawatts, enough to supply power to about 1.1 million homes.
Rolls-Royce SMR has been chosen to provide SMR units in the Czech Republic and is also on the shortlist for potential projects in the UK and Sweden.