Hinkley Point C contractor Rolls-Royce is looking to offload its civil nuclear arm in the latest blow to the UK nuclear industry.
Auditor KPMG has been brought in by the British engineering giant to find a buyer for its civil nuclear division, in a deal which could net the company £200M.
Rolls-Royce has supplied controls and systems technology to over 200 nuclear power plants across the world for 50 years, and is currently working on a £160M contract with EDF and China General Nuclear for Hinkley Point C.
Under the contract, Rolls-Royce will supply heat exchangers, an integrated emergency diesel backup power system and systems for the treatment and waste processing of reactor coolant.
A Rolls-Royce spokesperson said: “Rolls-Royce is conducting a review of options for its international civil nuclear business.”
New Civil Engineer understands that existing contracts with Hinkley Point C will not be offloaded as part of the sale. Likewise Rolls-Royce will honour its commitments to develop small nuclear reactor technology as part of a wider consortium.
The move to sell its nuclear arm is the latest in an effort to slim the company down, with Rolls-Royce shifting its fuel-injection subsidiary L’Orange, and its marine business in seperate deals worth a combined £1.1bn in 2018.
The news folows months of disappointing news for the UK nuclear sector.
In November 2018 Japanese developer Toshiba withdrew from the NuGen nuclear plant in Cumbria after its nuclear division collapsed.
The UK government is now seeking to adapt a new finance scheme for the Wylfa project, which remains in the balance.
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