The Government is considering ploughing more cash into mini nuclear reactors in an attempt to prevent further energy crises as Britain transitions to net-zero carbon emissions. Rolls-Royce could be in line for extra support for its small modular reactors as the current energy price crunch heightens the political focus on bolstering the security of the nation’s long-term electricity supply. The manufacturing titan secured £210m of backing from private investors for the project over the summer, allowing it to unlock matched funding from the Government. But £385m was earmarked for research and development support last year, and talks are still ongoing as to how much the consortium will get, raising the possibility of the funds being more than matched by the state. Sources close to the decision noted that “Rolls-Royce is ahead of the game in terms of tech,” and its status as a British company will also make it attractive to ministers. This stage of the project will see the SMRs designed and assessed by regulators. The next step is to get the factory to create the reactors designed and built. It is understood that the industry hopes for funds in next month’s spending review to support that stage of the project.
Telegraph 26th Sept 2021 read more »