Rolls-Royce Upbeat On Profits, To Pioneer Small UK Nuclear Reactors [Barron's]
ROLLS ROYCE HLDGS S/ADR (RYCEY)
NASDAQ:AMEX Investor Relations:
rolls-royce.com/investors.aspx
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Source: Barrons
The UK government, which made Rolls its preferred bidder for SMR technology, said in a separate statement that publicly-owned Great British Energy-Nuclear will oversee construction of the reactors, which are aimed at providing cheaper and cleaner energy. Advertisement - Scroll to Continue Rolls-Royce SMR aims to cut the costs and complexity of building nuclear power stations and is hoping to be profitable by 2030. "In the UK, where Rolls-Royce SMR was selected in June as the preferred technology provider..., commercial terms remain on track to be finalised later this year," Rolls said in Thursday's trading update. The government added in its statement that the UK's first small modular reactors will be "smaller and quicker to build than some traditional nuclear power stations" and "are expected to deliver power for the equivalent of around three million homes". The SMR project is backed by £2.5-billion ($3.3-billion) investment from Prime Minister Keir Starmer's Labour gover
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