Rolls-Royce Seeks U.K. Funds for Nuclear Power Project, FT Says
(Bloomberg) -- Rolls-Royce Holdings Plc and its partners are asking the U.K. government for more than 200 million pounds ($264 million) in funding to develop a business that will build small nuclear reactors, according to a report in the Financial Times.
The company is seeking a sum “in the low hundreds of millions,” the FT said on Sunday, citing a person familiar with the request.
The U.K. is reconsidering its plans to build new plants after Hitachi Ltd. and Toshiba Corp. withdrew from major projects, scuppering plans for a revival of nuclear power and leaving an energy gap.
Rolls-Royce confirmed to the Financial Times that its consortium was “in discussions with U.K. government officials that we hope could result in a significant joint investment in our power plant design.” Company representatives didn’t immediately respond to an emailed request for comment.
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