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Nuclear energy

CEZ to Complete Purchase of Rolls-Royce SMR Stake, Paving Way for Nuclear Reactor Development

Strategic Insights

— 2 min read

CEZ, the Czech semi-state energy group, will complete the purchase of approximately 20% of Rolls-Royce SMR in July, marking a significant step in its plans to develop modular nuclear reactors. The acquisition is part of CEZ's strategy to become a major player in the global nuclear energy market. The companies will work together to develop and produce small modular reactors, which will be used for heat supply and be built on the site of existing coal-fired power plants. The first domestic modular reactor is expected to be built in the first half of the 2030s at the Temelin nuclear power plant.

Key Takeaways:

  • CEZ will pay billions of Czech crowns for the approximately 20% stake in Rolls-Royce SMR, in addition to the 11% stake it already holds.
  • The acquisition is subject to the success of Rolls-Royce SMR in the British competition for the supplier of modular reactors, which was won in early June.
  • CEZ plans to build modular reactors with a total capacity of 3 gigawatts by 2050, with the existing nuclear power plants at Dukovany and Temelin having a combined capacity of approximately 4 gigawatts.
  • The modular reactors will be used primarily for heat supply and will be built on the site of existing coal-fired power plants.
  • CEZ will be directly involved in the development of the new modular reactor technology and its production on a global scale.
  • The small modular reactor from Rolls-Royce SMR is a pressurised water reactor that uses both active and passive safety features, with an electrical output of 470 megawatts and a lifetime of at least 60 years.
  • CEZ is currently preparing the construction of two large reactors with a capacity of over 1,000 MW each at Dukovany for a total of CZK407 billion at current prices.

Statistics:

  • CEZ will pay over CZK3 billion for its initial 11% stake in Rolls-Royce SMR (source: CEZ first quarter report).
  • The acquisition of the remaining 9% stake in Rolls-Royce SMR is expected to cost billions of Czech crowns.
  • CEZ plans to build modular reactors with a total capacity of 3 gigawatts by 2050.
  • The existing nuclear power plants at Dukovany and Temelin have a combined capacity of approximately 4 gigawatts.
  • The small modular reactor from Rolls-Royce SMR has an electrical output of 470 megawatts and a lifetime of at least 60 years.
  • CEZ is currently preparing the construction of two large reactors with a capacity of over 1,000 MW each at Dukovany for a total of CZK407 billion at current prices.

Sources:

  • CTK, "CEZ to complete purchase of Rolls-Royce SMR stake in July" (June 23)
  • CEZ, "First Quarter Report" (no date)
  • CEZ, "Presentation on Nuclear Energy" (no date)

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