Special Report-Qatar Gets in on the Rolls-Royce Led SMR Project

Qatar Investment Authority (QIA) said it would join Rolls-Royce in the British government backed project for developing small nuclear power plants. QIA will invest 85 million pounds for a 10% stake in the project, joining Rolls-Royce, BNF Resources UK and Exelon Generation.

QIA Chief Executive Mansoor bin Ebrahim Al-Mahmoud said the deal is part of Qatar’s effort to invest in the energy transition and low carbon electricity generation.

Rolls-Royce CEO Warren East said, with QIA’s involvement, the capital needed to establish its SMR (small modular reactors) unit was raised.

Last month, Britain said it was investing 210 million pounds in the project, alongside the 195 million investment from Rolls-Royce and its partners. The project is part of the British effort to reach net zero emissions and to develop new technologies with export potential.

The SMRs will be available in the early 2030s at best, and all new nuclear power projects need approval from Britain’s Office for Nuclear Regulation (ONR). The approval process can take up to four years.

Rolls-Royce will own about 70% of the project when fully completed.

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now

Need to access the insight?

Start your 7-day free trial now

Do you need to access special insights on this matter?

Start your 7-day free trial  and become a member today

Get your daily Business Brief

Subscribe free to Business Brief

Business Brief delivers the latest insights straight to your inbox

You'll get daily industry insights on

Energy, Cleantech, Oil & Gas, Mining, Defense, Aviation, Construction, Transportation, Online Retail, Bigtech, Finance and Politics of Business

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

China Imposes Sanctions on Taiwan Amid Pelosi’s Visit

China suspended the trade of some export and import items with Taiwan on Wednesday, amid U.S. House Speaker Pelosi’s visit to the island, despite condemnation from Beijing. Export of natural sand from China to Taiwan and imports of fruit and fish products from Taiwan to China are halted by Beijing. China had also suspended imports from 35 Taiwanese exporters of biscuits and pastries since Monday as a warning ahead of Pelosi’s visit.

Automakers Race to Secure Battery Metal Supply

Following a surge in demand for electric vehicles (EV) worldwide, major automotive manufacturers including Tesla, Volkswagen and Renault are looking to secure key raw materials for battery production. 

Ford Will Invest $3.7 Billion in New Assembly Plants

Ford Motor Co announced on Thursday that it will invest $3.7 billion in manufacturing plants in Michigan, Ohio and Missouri for production of both electric and gas powered vehicles.

Stay informed

error: This content is protected !!