Siemens Energy said recently it has entered a partnership that is expected to make the German group the exclusive supplier of conventional technology for future small modular nuclear reactors (SMR) to be built by Rolls-Royce SMR (RR.L), opens new tab.
Under the agreement, to be finalized by end-2025, Siemens Energy (ENR1n.DE), opens new tab would supply steam turbines, generators and "other auxiliary systems" for Rolls-Royce SMR's planned Generation 3+ modular nuclear power plants, it said.
"This partnership will unlock UK jobs and a range of manufacturing opportunities and further cements our position as Europe's leading SMR technology," Rolls-Royce SMR CEO Chris Cholerton said.
So-called SMRs are being developed by global nuclear energy suppliers to produce power plant technology that is easily replicable, faster and cheaper to deploy than traditional large-scale plants.
"We are currently experiencing a global renaissance of nuclear energy," Siemens Energy board member Karim Amin said.
