Frankfurt — Siemens Energy said on Friday it has entered a partnership that is expected to make the German group the exclusive supplier of conventional technology for future small modular nuclear reactors (SMR) to be built by Rolls-Royce SMR.
Under the agreement, to be finalised by end-2025, Siemens Energy would supply steam turbines, generators and “other auxiliary systems” for Rolls-Royce SMR’s planned Generation 3+ modular nuclear power plants, it said.
“This partnership will unlock UK jobs and a range of manufacturing opportunities and further cements our position as Europe’s leading SMR technology,” Rolls-Royce SMR CEO Chris Cholerton said.
So-called SMRs are being developed by global nuclear energy suppliers to produce power plant technology that is easily replicable, faster and cheaper to deploy than traditional large-scale plants.
“We are currently experiencing a global renaissance of nuclear energy,” Siemens Energy board member Karim Amin said.
“Numerous countries are turning to nuclear technology to produce low-emission electricity, and small modular reactors will play a key role in this.”
Rolls-Royce SMR – which is majority owned by Rolls-Royce while Qatar, Constellation Energy and investor BNF Resources hold minority stakes – is one of the companies shortlisted by Britain to develop SMRs.
Electricity producer CEZ said in October it would take a minority stake in Rolls-Royce SMR, whose reactors can achieve output of up to 470 megawatts, enough to power around 1.1 million households.
Rolls-Royce SMR has been selected to deliver SMR units in the Czech Republic and short-listed for potential projects in Britain and Sweden, it said.
The major strategy shift is aimed at boosting earnings and shareholder returns.
Reporting by Christoph Steitz, editing by Rachel More and Emelia Sithole-Matarise – Reuters
