Siemens Energy Will Supply Turbines for Rolls-Royce Small Modular Reactors [Yahoo! Finance]
SIEMENS AG SPONS ADR (SIEGY)
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Source: Yahoo! Finance
technology for future small modular reactors (SMRs). Under this agreement, Siemens Energy is to be the sole supplier of steam turbines, generators, and other auxiliary systems for the British manufacturer's planned Generation III+ modular nuclear power plants. The final contract, detailing all specifics, is expected to be completed by the end of 2025. SMRs are considered a promising technology for the future of nuclear energy and a key factor in the success of the energy transition. They are more compact, safer, and more cost-efficient than conventional nuclear power plants. Rolls-Royce SMR is currently developing a “mini nuclear power plant” that can be operational much faster than traditionally built plants, thanks to its standardized, modular design. Rolls-Royce SMR's pressurized water reactors are designed to achieve an electrical output of up to 470 MW, enough to supply approximately 1.1 million households with electricity. For decades, Siemens Energy has been a supplier and serv
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