CEZ to take stake in Rolls-Royce SMR to roll out small nuclear plants
PRAGUE, Oct 29 (Reuters) -Czech electricity producer CEZ CEZP.PR will take a minority stake in Rolls-Royce SMR to take part in the small nuclear reactor technology's roll-out in Britain, the Czech Republic and beyond, the companies said on Tuesday.
CEZ will take around 20% stake in Rolls-Royce SMR pending regulatory approvals, and plans to install up to 3 gigawatts of capacity in small nuclear plants made by the business, the companies said in a statement.
Small reactors are being developed by major global nuclear energy suppliers with the aim of producing an easily replicable power plant technology that would be faster and easier to deploy than traditional 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," CEZ said in a statement.
The Czech group aims to have the first reactor operational in the mid 2030s at its Temelin site in southern Czech Republic as part of plans to replace coal-fired plants.
The Rolls-Royce SMR project has output of 470 megawatts per unit, which is enough to power about a million homes, with a lifespan of at least 60 years.
CEZ operates six traditional nuclear reactors at its Dukovany and Temelin plants, and has also chosen South Korea's KHNP to build two large nuclear reactors at Dukovany.
Reporting by Jan Lopatka; Editing by Jan Harvey
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