Rolls-Royce SMR confirms ČEZ as strategic investor

Rolls-Royce SMR and ČEZ Group have cemented their partnership to boost the deployment of Rolls-Royce’s small modular reactor (SMR) technology.

As part of the collaboration, ČEZ will make a 20% equity investment into Rolls-Royce SMR, which will be coupled with a strategic partnership aimed at deploying up to 3GW of electricity in the Czech Republic using Rolls-Royce SMR power plants.

CEZ and Rolls-Royce SMR are working to finalise the contract for the first unit, with early works expected to commence as soon as 2025.

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According to Rolls-Royce, the collaboration is expected to last several decades and represents a strengthening of ties between the UK and Czech Governments. Furthermore, it will aid in building a European supply chain and develop the skills and knowledge base in both countries.

Tufan Erginbilgiç, CEO of Rolls-Royce plc, commented in a statement: “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.”

Daniel Beneš, CEO of CEZ Group, added: “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.”

Each Rolls-Royce SMR power station is expected to produce 470MWe of electricity – enough to power a million homes for at least 60 years.

The power plant will occupy approximately one-tenth of the size of a conventional nuclear generation site and will be factory-built, enabling completed modules to be transported by truck, train or barge.