"Tens of thousands" of highly skilled jobs could be created if the UK government chooses a consortium led by Rolls-Royce for its £250m ($310.77m) project to develop small modular reactors (SMRs), according to Harry Holt, president at Rolls-Royce's nuclear business. The SMR is an advanced reactor design that can produce electricity from uranium or plutonium and has been used in some countries such as France but not Britain. Global demand for nuclear energy is predicted to hit between 65 GW and 85 GW, and be worth £250bn-£400bn.
"Tens of thousands" of highly skilled jobs could be created if the UK government chooses a consortium led by Rolls-Royce for its £250m ($310.77m) project to develop small modular reactors (SMRs), according to Harry Holt, president at Rolls-Royce's nuclear business. Holt said the project was an "opportunity to change the whole paradigm of technology" and make Britain a main exporter of SMR technology, adding that with a £2.9bn price tag, SMRs could be cheaper than Hinkley Point. Global demand for nuclear energy is predicted to hit between 65 GW and 85 GW, and be worth £250bn-£400bn.