Russia's state-owned nuclear power entity is joining up with a major Finland-based utility and the power generation equipment arm of Rolls-Royce to win regulatory approval to sell and build nuclear reactors in the U.K., a country that has not build a new nuclear reactor in about 20 years.
Russia's Rosatom signed a memorandum of understanding with Michael Fallon, the British energy minister, which could bring the company closer to entering the British market.
Fortum said it would examine how Rosatom's reactor technology could be tailored to the U.K.'s energy needs, but added that no final deals are yet made. Fortum operates nuclear plants in Finland and Sweden.
There are nine operational nuclear power plants in the U.K., all but one of which is operated by EDF Energy. Nuclear energy provides roughly one-fifth of the country's electric power. The Office for Nuclear Regulation oversees the U.K. nuclear power sector.