Rolls Royce Lays Out Funding Plan for Small Nuclear Reactors
- Company is looking at PPAs to supplement government subsidy
- Firm raised money to fund development of reactor design
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Rolls-Royce Holdings Plc will need a guaranteed price of 60 pounds ($80.62) a megawatt-hour for electricity produced from its small nuclear reactors, significantly less than the contract for Electricite de France SA’s Hinkley Point C station.
The company is looking at selling long-term contracts to large consumers to supplement a contract-for-difference, the funding mechanism the government uses for renewables and big infrastructure projects, Tom Samson, chief executive officer of Rolls-Royce SMR Ltd., told a panel of lawmakers.