Rolls-Royce wins contract to build Swedish mini nuclear power stations

Rolls-Royce has beaten competition from the US to supply a Swedish firm with a series of small modular nuclear reactors.

The British engineering giant was selected by utility Vattenfall to build the mini-nukes for its Videberg Kraft venture, ahead of US rival GE Vernova.

Sweden’s parliament last year passed legislation to finance a new generation of reactors – the first to be built in the country for more than 40 years – to improve energy security and help reach net zero emissions by 2045.

Rolls-Royce has said each of its SMRs would generate enough electricity to power 1m homes for more than 60 years.

Boss Tufan Erginbilgic said: ‘Success in Sweden shows the real momentum that Rolls-Royce SMR is generating.’

Rolls shares rose 3.9 per cent yesterday.