Special Report-Qatar Gets in on the Rolls-Royce Led SMR Project
- December 21, 2021
- Posted by: Quatro Strategies
- Category: Energy
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.
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