Latest news with #SMRs
Yahoo
2 days ago
- Business
- Yahoo
UK, US should work together on small modular reactors, Starmer says
TURNBERRY, Scotland (Reuters) -British Prime Minister Keir Starmer said the country would benefit from working more closely with the United States on small modular reactors (SMRs) as he met U.S. President Donald Trump at his golf resort in Scotland on Monday. "The more we can work together on this the better," Starmer said. Last month, Britain selected Rolls-Royce to build the country's first SMRs, pledging 2.5 billion pounds ($3.35 billion) to kickstart the industry, Trump said the United States would look into the opportunity for smaller nuclear plants. "We're doing smaller and bigger, but the small is interesting," he told reporters in Turnberry. "They (Rolls-Royce) do a small plant, very easy, very safe, and as they need more they hook up another plant, and they have a series of plants instead of doing the $20 billion plant." Trump said SMRs could involve much lower investment, adding that they would study the option. ($1 = 0.7462 pounds) Sign in to access your portfolio
Reuters
2 days ago
- Business
- Reuters
UK, US should work together on small modular reactors, Starmer says
TURNBERRY, Scotland, July 28 (Reuters) - British Prime Minister Keir Starmer said the country would benefit from working more closely with the United States on small modular reactors (SMRs) as he met U.S. President Donald Trump at his golf resort in Scotland on Monday. "The more we can work together on this the better," Starmer said. Last month, Britain selected Rolls-Royce (RR.L), opens new tab to build the country's first SMRs, pledging 2.5 billion pounds ($3.35 billion) to kickstart the industry, Trump said the United States would look into the opportunity for smaller nuclear plants. "We're doing smaller and bigger, but the small is interesting," he told reporters in Turnberry. "They (Rolls-Royce) do a small plant, very easy, very safe, and as they need more they hook up another plant, and they have a series of plants instead of doing the $20 billion plant." Trump said SMRs could involve much lower investment, adding that they would study the option. ($1 = 0.7462 pounds)
Yahoo
3 days ago
- Business
- Yahoo
British Gas owner mulls mini-nuke challenge to Rolls-Royce
The owner of British Gas is considering investing in mini nuclear power plants in the UK as it seeks to cash in on burgeoning demand for the technology. Centrica is in early talks with the Government about a potential future deal that could see the energy giant participate in the development of so-called small modular reactors (SMRs). It comes after Ed Miliband, the Energy Secretary, last month announced billions of pounds in funding for SMRs, which will form part of a new 'golden age' for atomic energy. Rolls-Royce, the Derby-based engineering giant has been picked to build the UK's first SMRs which are expected to come online in the mid-2030s, providing crucial 'baseload' power to Britain's electricity grid. Chris O'Shea, the chief executive of Centrica, said the company would be 'very happy to invest more in nuclear'. Earlier this week, Centrica announced it would take a 15pc stake in the nuclear plant Sizewell C in Suffolk. When asked if further investment could apply to SMRs, Mr O'Shea said: 'I don't see why not. It will depend on the return rate and if the risk profile is right. 'SMRs are still five years away at best. But we've looked at some of the work that Rolls has done and what some of the overseas SMR companies have done. There's some really interesting technology.' Success in US Centrica's interest in SMRs has been buoyed by the recent progress of the technology in the US, where the government recently announced plans to invest $900m (£670m) in the sector. The global SMR market is projected to be worth as much as £500bn by 2050, according to the International Energy Agency, as countries race to hit net zero targets. Centrica's interest in nuclear will serve as a boost to Labour's energy strategy just days after the company backed Sizewell C. By taking a significant stake in the £38bn project alongside Canadian investment fund La Caisse and Amber Infrastructure, Sizewell C has finally secured approval for construction. Once built, the Suffolk nuclear plant will have a capacity of about 3.2 gigawatts, enough to power 6m homes for at least 60 years. After announcing Centrica's investment earlier this month, Mr O'Shea said: 'The UK needs more reliable, affordable, zero carbon electricity, and Sizewell C will be critical to supporting the country's energy system for many decades to come. 'This isn't just an investment in a new power station – it's an investment in Britain's energy independence, our net zero journey, and thousands of high-quality jobs across the country.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Telegraph
3 days ago
- Business
- Telegraph
British Gas owner explores building mini nuclear power plants
The owner of British Gas is considering investing in mini nuclear power plants in the UK as it seeks to cash in on burgeoning demand for the technology. Centrica is in early talks with the Government about a potential future deal that could see the energy giant participate in the development of so-called small modular reactors (SMRs). It comes after Ed Miliband, the Energy Secretary, last month announced billions of pounds in funding for SMRs, which will form part of a new 'golden age' for atomic energy. Rolls-Royce, the Derby-based engineering giant has been picked to build the UK's first SMRs which are expected to come online in the mid-2030s, providing crucial 'baseload' power to Britain's electricity grid. Chris O'Shea, the chief executive of Centrica, said the company would be 'very happy to invest more in nuclear'. Earlier this week, Centrica announced it would take a 15pc stake in the nuclear plant Sizewell C in Suffolk. When asked if further investment could apply to SMRs, Mr O'Shea said: 'I don't see why not. It will depend on the return rate and if the risk profile is right. 'SMRs are still five years away at best. But we've looked at some of the work that Rolls has done and what some of the overseas SMR companies have done. There's some really interesting technology.' Success in US Centrica's interest in SMRs has been buoyed by the recent progress of the technology in the US, where the government recently announced plans to invest $900m (£670m) in the sector. The global SMR market is projected to be worth as much as £500bn by 2050, according to the International Energy Agency, as countries race to hit net zero targets. Centrica's interest in nuclear will serve as a boost to Labour's energy strategy just days after the company backed Sizewell C. By taking a significant stake in the £38bn project alongside Canadian investment fund La Caisse and Amber Infrastructure, Sizewell C has finally secured approval for construction. Once built, the Suffolk nuclear plant will have a capacity of about 3.2 gigawatts, enough to power 6m homes for at least 60 years. After announcing Centrica's investment earlier this month, Mr O'Shea said: 'The UK needs more reliable, affordable, zero carbon electricity, and Sizewell C will be critical to supporting the country's energy system for many decades to come. 'This isn't just an investment in a new power station – it's an investment in Britain's energy independence, our net zero journey, and thousands of high-quality jobs across the country.'
Time of India
4 days ago
- Business
- Time of India
NRC approves Holtec's request to restart Michigan nuclear plant
The US Nuclear Regulatory Commission (NRC) has approved a series of requests from Holtec International that lay the groundwork to restart the Palisades nuclear power plant in Michigan, the agency and company said on Thursday. The approvals will allow Holtec to load fuel, but the company will need further approvals before the plant, which ceased operations under a different proprietor in May 2022, can start back up, they said in separate statements. Holtec is restarting the decommissioned 800-megawatt Palisades plant and plans to install two small modular reactors (SMRs), based on existing light water reactor (LWR) technology, at the same facility. In a partnership with Hyundai Engineering & Construction , Holtec plans to build 10 gigawatts of SMRs in North America through the 2030s, starting at Palisades. Holtec bought the plant to decommission it, but now hopes to reopen it - the first US commercial reactor to restart after ceasing operations - amid rising US power demand driven by data centers and artificial intelligence growth. "Once returned to service, Palisades will generate more than 800 megawatts of safe, reliable, and carbon-free baseload power - enough to power more than 800,000 households... enhance grid reliability and help meet growing energy demand in Michigan and beyond," Holtec said. It did not give a start-up date. In March, Holtec said it wants to reopen the plant in the fourth quarter of 2025. "While these NRC approvals will allow Holtec to load fuel, there are still several licensing actions under NRC review and additional requirements that need to be met before the plant can start up under the original operating license, which would expire March 24, 2031," the NRC said. The NRC has transferred PNP's operating authority from Holtec Decommissioning International to Palisades Energy LLC and reinstated key documents, including emergency and security plans, maintenance and inspection programs.
