Ineos in talks over nuclear reactor tie-up with Rolls-Royce: Sir Jim Ratcliffe’s chemical empire could run on mini power station
Sir Jim Ratcliffe’s chemicals empire could become one of the first businesses to run on one of Rolls-Royce’s mini-nuclear power stations.
The Sunday Telegraph reported that Ineos is in talks with Rolls-Royce about building the latter’s Small Modular Reactors (SMRs) at its Grangemouth chemical refinery.
It comes as Rolls-Royce is urging the government to start formal talks over funding for the SMR, which it wants to build in England or Wales over the next decade.
The Talk: Sir Jim Ratcliffe’s chemicals empire could become one of the first businesses to run on one of Rolls-Royce’s mini-nuclear power stations
In the longer term, SMRs can boost UK energy security and reduce electricity costs.
Great British Nuclear, a government advisory panel, has estimated that it would cost £200 billion for the UK to meet its target of generating 24 gigawatts from nuclear sources by 2050.
Rolls-Royce wants to build around 30 SMRs, but needs customers upfront to fund their development.
Ratcliffe has previously courted controversy in the UK over his support of fracking.
