NRI Annual Review 2024 - Flipbook - Page 15
Small modular reactors,
or SMRs, look set to play
a key role in the global
transition to an energysecure, net-zero future.
Described by the UK Prime
Minister as “one of the
most advanced nuclear
power technologies in the
world”, SMRs are expected
to generate low-carbon,
low-cost energy while
driving job creation and
economic growth.
Rolls-Royce SMR is at the heart
of the SMR revolution, aiming
to deliver clean, affordable
energy for all through its unique
product design and construction
methods. With its pioneering
technology currently moving
through the UK regulatory
process, Rolls-Royce SMR
believes its vision could provide
a global, game-changing model
for nuclear development
Rolls-Royce began working on
SMRs in 2015 with a handful of
team members. Collaborating
with a consortium of industry
partners, the company set
out to leverage its world-class
manufacturing and nuclear
heritage to support the
development of fully integrated
nuclear power solutions.
Following an intensive period
of investment, research and
development, Rolls-Royce SMR
Ltd was founded in 2021, created
speci昀椀cally to deliver innovative
SMR technology and stimulate
the UK nuclear industry. Thanks
to government funding and
private equity, the company has
developed and expanded rapidly.
It now comprises 620 people and
is set to grow to 800 by the end
of 2024, incorporating a wealth
of engineering talent and a solid
15
15
Programme Management
Of昀椀ce (PMO) skills base.
The Rolls-Royce SMR model is
predicated on the creation of a
repeatable, factory-built, power
station – using tried-and-tested
nuclear technology and modular
construction techniques. Our
unique approach involves 90%
of the asset being fabricated
in a factory and delivered as
modules to the prepared site,
where it is assembled and
commissioned by a Rolls-Royce
SMR team. It is a radically
different and disruptive method
for delivering nuclear power,
with a drastic reduction in onsite construction activities and
a de昀椀nitive shift away from
large, complex infrastructure
programmes.
At present, Rolls-Royce SMR
is advancing through the UK
regulatory process. As we do this,
we are working with Great British
Nuclear (GBN) to secure project
certainty and con昀椀dence in the
‘whole power plant’ philosophy.
Having completed step one of
the regulatory journey, we aim
to achieve step two by summer
2024. Step two will be a key
moment for the business, as
this will be the point at which
our design is de-risked and
will have completed its 昀椀rst
substantive technical assessment.
For everyone involved, it will
be con昀椀rmation that we have
reached ‘design maturity’. The
next six months will therefore
be a critical period in the
company’s evolution.
Consistent,
cohesive and
compelling
Traditionally, large nuclear
projects have entailed assembling
vast teams of different
contractors and companies, each
with responsibility for designing
and delivering different power
station components. With
work spread across an array of
specialist suppliers, the success
of these schemes has depended
upon all parties adhering to strict
project timelines, presenting
obvious challenges when delays
and overruns inevitably occur.
If one party cannot complete
on time, another who might be
ready to deliver is immediately
impacted, creating a complex
limited liability or liquidated
damages scenario, fraught with
claim and counterclaim.
Within the Rolls-Royce SMR
model, we aim to eliminate these
risks by taking sole responsibility
and design control. We also aim
to appoint supply chain partners
with whom we will work
repeatedly on different projects
and in different markets. This
cohesive and consistent approach
means we capture learnings,
consolidate methods and re昀椀ne
techniques as we go, rather than
having to prove, test and deliver
new components and processes
for every project – removing the
risk that every build is a ‘昀椀rst
of a kind’.
Through its decades of
experience designing and
operating nuclear reactors,
Rolls-Royce understands that
it is not nuclear physics that
creates project bottlenecks. It
is construction. This is why
the modularised, factory-built
approach is so important to
