We may include advertisements from us and 3rd parties based on our understanding. The British engineering firm is looking for locations in England and Wales to house its fleet of small nuclear reactors SMRs Rolls-Royce's SMRs are said to be a revolutionary new way of providing nuclear power, being much smaller, cheaper and quicker to build than regular nuclear power plants. Rolls-Royce is now seeking bids and is leading a consortium that has written to several of England's regional development bodies and the Welsh government.
It asked them to pitch for the manufacturing site and has promised an investment of up to 200 million. It has promised to create as many as 200 direct jobs. The consortium secured 210 m from the government last year for the development of an SMR fleet after raising a similar amount of private sector funding. Prime Minister Boris Johnson backed SMRs as part of his 10 point plan for a green industrial revolution, as he tries to get Britain s emissions down to net zero to meet the 2050 target. The plan is for reactors to be built in factories around the country and then assembled on site, and that the programme supports government objectives to provide further optionality in our work towards the UK's net zero ambitions. This will reduce the risks and costs of construction of larger nuclear power plants. The main factory will build the heavy pressure vessels that are part of the reactors. Rolls-Royce believes that the community chosen to host the factory will benefit from high value, sustainable jobs that will produce products that will be exported for many decades to come, rather than looking for cash from local councils. READ MORE: End of the World warning as evidence found for sixth mass extinction
Archaeologists are baffled by the skeleton that had been rolled into a ditch REPORT Tourist spots under threat as mega iceberg leaks 152 tons of water REVEAL Truss close to Brexit deal as Britain starts to pump funds into EU project INSIGHT The company will have to meet its mid- 2030 s target of 470 MW of the first 470 MW plant. Rolls-Royce Small Modular Reactor said the development and growth of a UK nuclear manufacturing base is central to the deployment of Rolls-Royce SMRs and there are plans to export the technology across the world to capitalise on a significant market. The estimated market value for SMRs is around 250 billion.