Energy Rolls-Royce nuclear offshoot wins $3bn UK contract By Chris Hamill-Stewart June 11, 2025, 6:09 PM Rolls-Royce SMR A concept image of a Rolls-Royce SMR site. The global market for the technology is predicted to be worth £500 billion by 2050 QIA owns 10% stake Plan to build 3 reactors Contract worth $2.86bn A Qatar-backed subsidiary of Rolls-Royce has won a contract to build three small modular nuclear reactors (SMRs) in the UK worth £2.5 billion ($2.86 billion). The UK government announced that Rolls-Royce SMR had won the contract on Tuesday, sending Rolls-Royce’s share price to its highest ever level. Qatar’s sovereign wealth fund, the Qatar Investment Authority, invested £85 million ($115 million) in the joint venture in 2021 in exchange for 10 percent equity. Rolls-Royce SMR has already agreed to produce one of the next generation reactors in the Czech Republic, and it is in the final two in a competition in Sweden. SMRs are significantly smaller than traditional nuclear reactors – although each is still likely to occupy multiple acres of land. China to build ‘sub-critical’ nuclear reactor in Iraq Iraq finalises nuclear cooperation deal with Russia Turkey in nuclear plant talks with Canada’s Candu They have the advantage of not needing to be built bespoke on-site like traditional reactors. All parts can be manufactured elsewhere and then transported to the site using conventional means. The global SMR market is, according to the International Energy Agency, projected to be worth £500 billion by 2050. As of December 2024, nuclear energy accounts for only 9 percent of global electricity generation, with 440 reactors in operation worldwide. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
