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Rolls-Royce seeks UK funds for nuclear power project, FT Says

Jan 27 2019 18:30
Áine Quinn, Bloomberg

Rolls-Royce and its partners are asking the UK government for more than 200 million pounds ($264 million) in funding to develop a business that will build small nuclear reactors, according to a report in the Financial Times.

The company is seeking a sum “in the low hundreds of millions,” the FT said on Sunday, citing a person familiar with the request.

The UK is reconsidering its plans to build new plants after Hitachi and Toshiba withdrew from major projects, scuppering plans for a revival of nuclear power and leaving an energy gap.

Rolls-Royce confirmed to the Financial Times that its consortium was “in discussions with UK government officials that we hope could result in a significant joint investment in our power plant design.”

Company representatives didn’t immediately respond to an emailed request for comment.

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