The U.K.'s Rolls-Royce and Turkey's EUAS International ICC signed a Memorandum of Understanding (MoU) to evaluate the technical, economical and legal applicability of small modular reactors (SMRs), according to Rolls-Royce on Saturday.
The parties will also consider the possibility of joint production of SMRs to underpin clean economic growth, the company said in a statement.
"This announcement will help the provision of low carbon energy systems and marks an exciting new chapter in the strong relationship between the U.K. and Turkey," the statement read.
The agreement commits to a study that will look at the technical, licensing, commercial and investment cases for the deployment of the consortium’s power station, potential construction processes, and market potential in Turkey and globally, according to the company.
The agreement will see phased collaboration during the next two years.
"Addressing climate change is not only our planet’s most pressing long term challenge but also can be a crucial economic opportunity," said David Orr, Consortium Director for Rolls-Royce.
"Our power station is affordable, fast to deploy and is an attractive investment that will stimulate tens of thousands of jobs regionally and embed prosperity and quality of life for decades to come," he said.
"Turkey's domestic and regional nuclear power opportunities are incredibly exciting, and we look forward to exploring how our consortium's power station will support its energy, economic and industrial ambitions," Orr added.
By Firdevs Yuksel