OK...OK...the secret is out, I love Atkins...very wise purchase by SNC that almost did not work out due to corporate culture clashes before Ian..where would SNC be without Atkins Brit Engineering? Seems most recent major UK U.S. contracts are Atkins based...I wonder if keeping the English only speaking Brit running a proud Quebec company owned mostly by Quebec money and compensating him well despite his flaws is starting to make sense to y'all now??? .....keep Atkins people happy and culture differences minimal so that SNC survives!!!! Here is another medium sized contract .......Cheers, Rookie
The government has pledged £210M of funding towards development of the new Rolls-Royce small modular reactor (SMR).
Civil, structural and architectural design of the SMR is led by Atkins. Matched by private sector funding of over £250M, the total £460M investment will progress phase two of the low-cost nuclear project to further develop SMR design and take it through the regulatory processes.
New nuclear has a crucial role to play in providing reliable, affordable, low carbon energy as Britain works to reduce its dependency on volatile fossil fuels and exposure to global gas price spikes.
SMRs have the potential to be less expensive to build than traditional nuclear power plants because of their smaller size.
Their modular nature of the components offers the potential for parts to be produced in dedicated factories and shipped by road to site – reducing construction time and cost.
Rolls Royce SMR estimate that each SMR could be capable of powering 1M homes – equivalent to a city the size of Leeds.
Rolls Royce chief executive Warren East emphasised that the programme is “one of the ways that Rolls-Royce is meeting the need to ensure the UK continues to develop innovative ways to tackle the global threat of climate change”.
Meanwhile, Atkins nuclear and power managing director Chris Ball welcomed the funding.
“Decarbonising the UK’s power system by 2035 requires investment in innovation and the rapid development of new solutions, alongside the deployment of proven generating technology,” he said.
“The UK must achieve an unprecedented build rate to transform its energy infrastructure and the modular design and swift construction potential of these SMRs means they could play a significant role in meeting the UK’s ambitious targets.
“The progression of SMRs alongside the recent commitment to adopt a new nuclear funding model for large projects mean that new nuclear in the UK is once again gathering momentum.”
Business and energy secretary Kwasi Kwarteng added: “This is a once in a lifetime opportunity for the UK to deploy more low carbon energy than ever before and ensure greater energy independence.
“In working with Rolls Royce, we are proud to back the largest engineering collaboration the UK has ever seen - uniting some of the most respected and innovating organisations on the planet.”
The £210M grant follows £18M invested in November 2019, which has already delivered significant development of the initial design as part of phase one of the low-cost nuclear project.
Today’s funding has been awarded through the Low-Cost Nuclear challenge at UK Research and Innovation.
The news comes as Parliament considers the Nuclear Energy Financing Bill which establishes a new financing model for nuclear projects, known as the Regulated Asset Base. This would attract a wider range of private investment into these projects, reducing build costs, consumers’ energy bills and Britain’s reliance on overseas developers for finance.
The UK is investing millions into the nuclear industry, including up to £1.7bn to bring at least one large-scale nuclear project to a final investment decision, and a new £120M Future Nuclear Enabling Fund to provide targeted support towards further nuclear projects as part of the Net Zero Strategy.
Last week Bryden Wood announced ambitious plans to repurpose the world’s coal fired power stations to accommodate modular nuclear reactors in a bid to decarbonise the global energy sector.