Czech group takes 20% stake in Rolls-Royce nuclear power firm
ČEZ Group, the Czech-based power generation conglomerate, has taken a 20% stake in Derby-based Rolls-Royce SMR.
Rolls says the move will form a strategic partnership to deploy up to 3GW of electricity in the Czech Republic using Rolls-Royce SMR power plants.
On 18 September, Czech Prime Minister Fiala announced that CEZ and Rolls-Royce SMR would enter a strategic partnership to enable the development and construction of SMRs in the Czech Republic.
CEZ and Rolls-Royce SMR will work together on plans for the deployment of up to 3GW of clean, affordable energy in the Czech Republic.
CEZ and Rolls-Royce SMR will now work to finalise contractual order terms for an order of the first unit with early works expected to start as soon as 2025. CEZ will also support Rolls-Royce SMR to deploy SMR projects across Europe.
This collaboration is expected to last several decades.
Each Rolls-Royce SMR power station is expected to produce 470MWe of emission-free electricity – enough to power a million homes for at least 60 years.
Tufan Erginbilgiç, CEO of Rolls-Royce, said: “We are pleased to receive this significant opportunity to deploy our SMR technology in the Czech Republic and welcome CEZ as a strategic investor and partner in Rolls-Royce SMR.
“We have a shared vision and CEZ further strengthens our ability to build stable, secure, low carbon power – delivering on our promise as a leading SMR business.
“[Today’s] announcement ensures that the Rolls-Royce SMR business is set up for success in the UK, the Czech Republic and around the world.”
Daniel Beneš, CEO of CEZ Group, said: “This investment enables our commitment to international collaboration in delivering clean power at home and abroad.
“The Czech Republic hosts some of the world’s leading nuclear supply chain companies. This collaboration in deployment of Rolls-Royce SMR units offers a unique opportunity for growth and prosperity to the nuclear sector through our participation in the development of the technology and will enable CEZ and other local companies to play a significant role in its future global production.”
Photo caption: Minister of Industry and Trade of the Czech Republic Lukáš Vlček, Czech Republic Prime Minister Petr Fiala, HM Trade Commissioner for Europe Chris Barton CMG, UK Ambassador to the Czech Republic, Matt Field OBE
From bottom left to right: CEO of ČEZ Group Daniel Beneš, Rolls-Royce plc CEO Tufan Erginbilgic.
