Siemens Energy Partners with Rolls-Royce SMR to Supply Small Modular Reactor

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Siemens Energy partners with Rolls-Royce SMR to supply key technology for future Small Modular Reactors (Image Credits: X/ @RollsRoyce)
Siemens Energy partners with Rolls-Royce SMR to supply key technology for future Small Modular Reactors (Image Credits: X/ @RollsRoyce)

Siemens Energy has partnered with Rolls-Royce SMR to supply conventional technology for its future Small Modular Reactors (SMRs). In this partnership, Siemens Energy will supply major components such as steam turbines, generators, and auxiliary systems for Rolls-Royce’s planned Generation 3+ modular nuclear power plants. The two companies will finalize the comprehensive agreement for this partnership by December 2025.

Exclusive Technology Supply Agreement

Under the deal, Siemens Energy will exclusively supply Rolls-Royce SMR’s order book reactors with the non-nuclear hardware. Rolls-Royce is designing small nuclear reactors that will use steam turbines and generators to produce up to 470 megawatts of electricity, enough to power 1.1 million homes, marking a significant breakthrough for the energy industry.

SMRs are seen as a future innovation for nuclear power. Smaller, safer, and cheaper than traditional nuclear power plants, they can make a major contribution to the global energy transition. Rolls-Royce SMR designs modular units that speed up construction and bring power online faster than traditional nuclear plants.

Rolls-Royce SMR’s intended pressurized water reactors will be at the heart of the next-generation nuclear power technology. Their modular design will make them deploy more quickly and give operational flexibility, delivering clean and reliable energy.

Karim Amin, Executive Board Member at Siemens Energy, said, “We are currently experiencing a global renaissance of nuclear energy. Numerous countries are turning to nuclear technology to produce low-emission electricity, and small modular reactors will play a key role in this.”

Also read: Aker Solutions and Siemens Energy Receive Notice to Proceed for Norfolk Wind Farms

Siemens Energy’s Expertise in Nuclear Power Systems

Siemens Energy provides decades of know-how in supplying critical components and systems for the nuclear sector. The company has been a reliable supplier to nuclear power plants, providing steam turbines and generators with outputs from 20 MW to 1,900 MW. Siemens Energy’s control system and power island technology expertise will assist Rolls-Royce SMR in delivering innovative small reactors.

IFC Invests €100 Million to Support Sustainable Infrastructure in Bulgaria, Poland, and Romania

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IFC announces €100M investment in Kommunalkredit’s bond to fund renewable energy projects in Bulgaria, Poland, and Romania.
IFC announces €100M investment in Kommunalkredit’s bond to fund renewable energy projects in Bulgaria, Poland, and Romania.

The International Finance Corporation (IFC) has announced an investment of up to €100 million in a senior unsecured bond from Kommunalkredit Austria AG (Kommunalkredit). The Kommunalkredit bond investment is IFC’s first investment in a specialized infrastructure financial institution in the European region. The bond issuance, which also includes an equal investment from the Asian Infrastructure Investment Bank (AIIB), will help boost financing for sustainable infrastructure projects in Bulgaria, Poland, and Romania.

A Landmark Collaboration for Sustainable Infrastructure

The €200 million bond issue will support ten renewable energy projects in the three nations with a total investment of about €600 million. The funds will support projects diversifying the energy mix, making Bulgaria, Poland, and Romania’s power sector more resilient. The projects will also promote the low-carbon transition in these countries.

Sebastian Firlinger, Acting CEO of Kommunalkredit, said, “We are delighted to join forces with IFC and AIIB—two global organizations that share our vision for sustainable development—to advance the sustainable transition and boost private sector investment in emerging markets.”

He added, “This transaction marks the beginning of what we anticipate will be an impactful long-term partnership between our three organizations.”

Improving Energy Mix and Supporting Low-Carbon Growth

Renewable energy makes up only 14-19% of the energy mix in Bulgaria, Poland, and Romania, falling short of EU targets. IFC’s investment will direct essential funding into renewable energy projects, helping close the gap and support a sustainable energy future.

Also read: IFC Partners with Attijariwafa Bank Egypt to Support SMEs and Climate Finance

Supporting Sustainable Growth and Energy Transition

Additionally, the investment supports IFC’s vision of promoting low-carbon, resilient, and inclusive growth in Bulgaria, Poland, and Romania. IFC has been operating actively in these nations to spur economic development, enhance infrastructure, and increase access to energy.

The investment in bonds will also assist the region in its renewable energy ambitions and facilitate the general sustainability goals of the EU. IFC is further catalyzing the transition towards low carbon and sustainable infrastructure development in the emerging markets through such partnerships.