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Ineos in talks on nuclear reactor tie-up with Rolls-Royce

Talks: Sir Jim Ratcliffe's chemical empire could become one of the first companies to operate on one of Rolls-Royce's mini nuclear power stations

Ineos in talks on nuclear reactor tie-up with Rolls-Royce: Sir Jim Ratcliffe’s chemical empire could run on a mini power station

Sir Jim Ratcliffe’s chemical empire could become one of the first companies to operate on one of Rolls-Royce’s mini nuclear power stations.

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Ineos is in talks with Rolls-Royce about building one of the latter’s small modular reactors (SMRs) at its Grangemouth chemicals refinery, the Sunday Telegraph reported.

It comes as Rolls-Royce urges the government to start formal negotiations over funding SMRs it wants to build in England or Wales over the next decade.

In the long term, SMRs could enhance Britain’s energy security and lower the cost of electricity.

Great British Nuclear, a government advisory group, has estimated that it will cost the UK £200 billion to meet its target of producing 24 gigawatts from nuclear sources by 2050.

Rolls-Royce wants to manufacture around thirty SMRs, but needs upstream customers to finance their development.

Ratcliffe has previously courted controversy over his support for fracking in Britain.

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