Qatar takes 10 per cent stake in Rolls-Royce green nuclear business
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Qatar’s sovereign wealth fund the Qatar Investment Authority (QIA) is reportedly investing £85m in a low-carbon nuclear plant developed by Rolls-Royce and backed by the UK Government.
The QIA will own a 10 per cent stake while Rolls-Royce will be left with 70 per cent ownership after investing £195m in the project.
Other stakeholders will include BNF Resources UK and US energy provider Exelon Generation, while the UK Government announced last month it would invest £210m.
The plant, which will be operational from the 2030s, will produce low-carbon energy for around one million homes, Reuters reported.
Rolls-Royce also announced this morning it will collaborate with Easyjet to research sustainable aviation solutions. Beginning in January 2022, the two-year study will focus on sustainable aviation fuels and other zero-emission technologies.
“We know that sustainable aviation fuels already provide a drop-in solution, and so will have the most powerful impact on decarbonising aviation and achieving net zero by 2050,” said Rolls-Royce’s large engines head of product development Jason Ash.
“But we also want to better understand other forms of propulsion, energy and power and their potential benefits along with the challenges in operation.