UK’s Rolls-Royce SMR, Czech’s CEZ join forces for modular nuclear project
Czech electricity producer CEZ has strategically partnered with the UK’s Rolls-Royce SMR to lead a project to develop and deploy small modular nuclear reactors.
On Tuesday, October 29, the companies released a statement that stated that CEZ will take a minority stake in the Rolls-Royce SMR, a company focused on developing small modular nuclear reactors, to roll-out the nuclear reactors in Britain, the Czech Republic, and around the world, reported AP News.
Under the signed deal, CEZ will take around 20% stakes in the British company that will cost it several billion Czech koruna (hundreds of millions of dollars).
The companies also stated that CEZ plans to install about 3 gigawatts of capacity in small nuclear plants made by the business.
“The agreement strengthens Rolls-Royce SMR’s ability to deploy SMR technology in Europe and globally, and puts CEZ, Rolls-Royce SMR, and its existing shareholders, BNF Resources, Constellation, QIA and Rolls-Royce at the forefront of SMR deployment,” noted CEZ in its statement.
Czech Prime Minister Petr Fiala stated, “It’s an important moment for ensuring energy security of the Czech Republic.”
It has been reported that the first small modular nuclear reactor is expected to be built in the first half of the 2030’s at CEZ’s existing Temelin nuclear plant.
The company also noted that the British company’s power plant, which uses a small modular reactor, should be enough to produce 470 MW for 60 years.
Notably, CEZ is also expected to make a deal with South Korea’s KHNP to develop at least two nuclear reactors in the Czech Republic by March 2025.
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Publish date : 2024-10-29 08:30:00
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Author : love-europe
Publish date : 2024-10-29 16:21:10
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