Rolls-Royce Holding Plc is set for a billion-pounds boost through a series of orders for ‘mini’ nuclear power plants in Eastern Europe, according to reports.
The British engineering group is to kick-start a project for its small modular reactors (SMRs) programme, according to the Mail on Sunday, which said Rolls had raised £210mln from private investors and is set to secure the same again from the UK Government.
The business venture aims to capture orders from countries such as Poland, the Czech Republic, Latvia, Hungary, Estonia and Bulgaria which are said to be developing aggressive plans for nuclear power.
The Mail story includes quotes from IP3, a ‘green’ investment fund which is said to have invested in venture and sounded out pension funds and institutional investors to co-invest.
At the same time, the Mail noted that IP3 is also advising large Polish energy supplier ZE PAK on the development of a plan for nuclear plants.
Rolls-Royce acknowledged to the Mail that it was in talks with interested parties over export opportunities around the world, including in Europe.
In Monday’s early deals, in London, Rolls-Royce shares were up around 1% changing hands at 144p.