Rolls-Royce SMR Limited (Rolls-Royce SMR) and ČEZ Group (CEZ) have today announced that they will join forces to bring their global capabilities and know-how to the deployment of Rolls-Royce SMR’s small modular reactor (SMR) technology. This is enabled by an equity investment by CEZ into Rolls-Royce SMR and a strategic partnership to deploy up to 3GW of electricity in the Czech Republic using Rolls-Royce SMR power plants.
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. These efforts further support the UK and Europe to reach their ambitious net zero goals and contribute solutions to address the challenges of climate change.
Tufan Erginbilgiç, CEO of Rolls-Royce plc, 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.”
Subject to customary regulatory clearances and security assessments, CEZ will make an investment into Rolls-Royce SMR, acquiring a stake of approximately 20 percent.
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 collaboratively on plans for the deployment of up to 3 GW of clean, affordable energy in the Czech Republic. CEZ and Rolls-Royce SMR will work to finalise contractual order terms for an order of the first unit with early works expected to commence as soon as 2025. Furthermore, CEZ will support Rolls-Royce SMR to deploy SMR projects across Europe, leveraging the learning curve and knowledge transfer across projects.
This collaboration, expected to last several decades, is more than just an agreement between Rolls-Royce SMR and CEZ, it represents an important strengthening of ties between the UK and Czech Governments. It also signals a strong commitment to building an international supply chain, generating an enormous opportunity to develop skills in both countries and deliver significant economic growth.
Nuclear energy will play a key role in both the UK and the Czech Republic as both countries seek a secure, clean, and affordable supply of electricity for generations to come.
Each Rolls-Royce SMR power station is expected to produce 470MWe of stable, affordable, emission-free electricity – enough to power a million homes for at least 60 years.
Contacts;
Rolls-Royce SMR Limited
Dan Gould,
[email protected]
M +44 (0) 7717 720809
https://www.rolls-royce-smr.com/
Home | Rolls-Royce SMR – Generic Design Assessment (rolls-royce-smr.com)
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ČEZ, a.s.
Ladislav Kříž
Director of Media Department, Press Officer
[email protected]
T : + 420 211 042 383
CEZ Group
Notes to Editors:
Rolls-Royce SMR
Rolls-Royce SMR has been successfully shortlisted in the UK’s Great British Nuclear competition to select and contract providers of Small Modular Reactor (SMR) technology and has completed Step Two of the important UK Generic Design Assessment process run by independent regulatory bodies.
CEZ Group
CEZ is one of the largest companies in the Czech Republic and a leading energy group operating in Western and Central Europe. CEZ Group has committed to set an example and make the energy sector sustainable, more environmentally friendly, and conscious in regard to our planet. A priority for CEZ is greater diversity, closer cooperation with communities, and an approach to customers that is as accommodating as possible, offering them the best technological and energy-efficient solutions.
The foundation of power generation at CEZ Group are emission-free sources. The CEZ strategy named Clean Energy for Tomorrow is based on ambitious decarbonisation, development of nuclear energy, and a significant increase in the number of renewable sources of energy that we build for our customers’ needs. Recently, CEZ announced that it would move forward its climate-neutrality commitment by ten years, to 2040.
Aside from emission-free production, CEZ’s main business includes energy distribution and sales, with promising areas being support for innovations and investments in clean-tech companies.