LONDON — Rolls-Royce has announced that it plans to build small modular reactors, or SMRs, and install them in old nuclear sites across the United Kingdom by 2029.

The company said they will build approximately 10 to 15 mini nuclear stations. These are expected to last for 60 years.

Rolls-Royce explained that these modular reactors will be mass produced while prefabricated components will be delivered onsite in order to reduce costs.

Chief technology officer at Rolls-Royce, Paul Stein, told the BBC that lower reactor building costs would eventually lead to cheaper electricity for the public.

These nuclear reactors will be roughly 1.5 acres in size, BBC News reports. This is 16 times smaller than the size of Hinkley Point, a major nuclear power station in the United Kingdom.

A press release by the company states that one reactor will be able to provide roughly 220 to 440 megawatts of energy which is equivalent to up to 150 onshore wind turbines.

Roll-Royce said that it also plans to sell these tiny modular reactors to other foreign countries such as Canada, the U.S. and China.