Published:29.10.2024
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ČEZ to buy a stake in Rolls-Royce SMR

ČEZ has formed a partnership with Rolls-Royce SMR to jointly develop modular nuclear reactors, purchasing a 20% stake in the British firm. This collaboration aims to improve modular reactor technology for global production, contributing to climate goals and decreasing dependence on fossil fuels.

ČEZ, a semi-state energy company, has signed a strategic cooperation agreement with Rolls-Royce SMR to develop modular reactors. ČEZ will buy a roughly 20 per cent stake in the British company, for which it will pay several billion crowns, announced Prime Minister Petr Fiala (ODS) and representatives of both companies.

The cooperation, envisages that ČEZ will directly participate in developing new modular reactor technology and their production on a global scale. This means that it will be way more than just the purchase or supply of finished equipment.


Tom Samson, who is in charge of the UK consortium SMR, emphasised that nuclear energy is a key element in tackling climate change and economic recovery worldwide from the perspective of the company he represents. "The affordability and the speed with which we can assemble the entire plant will undoubtedly make it a very attractive option for ČEZ" he said.


More and more countries and companies have been developing modular nuclear power plants in recent years. They are motivated by the high prices of raw energy materials, the transition to emission-free energy, the reduction of fossil fuels and their imminent scarcity, and the reduction of dependence on Russia. The use of SMRs is not only planned for power generation but also for hydrogen production, or seawater desalination.


The first modular reactor in the Czech Republic is expected to be built in the first half of the 2030s in Temelín. Others are envisaged, for example, at the sites of the Prunéřov or Dětmarovice coal-fired power plants. By 2050, up to ten smaller reactors are planned to be built for electricity generation and heat production.

Source: ČT24
Prepared by the CzechTrade London team