Czech power provider CEZ has entered into a strategic agreement with Rolls-Royce SMR to develop and install small modular nuclear reactors (SMRs) in Europe. As part of the deal, CEZ will acquire a 20% stake in Rolls-Royce SMR for a significant investment totaling hundreds of millions of euros.
The first SMR unit is expected to be operational at CEZ’s Temelin nuclear plant by the early 2030s. This partnership aims to bring up to 3 GW of new nuclear energy to the Czech Republic, with plans for additional projects in Europe and beyond.
The Czech government, which holds nearly 70% ownership in CEZ, sees this development as crucial for national energy security. “This is a vital step for the Czech Republic’s energy independence,” commented Czech Prime Minister Petr Fiala.
Rolls-Royce’s small modular reactors can generate around 470 MW each, with an operational lifespan of 60 years. Unlike traditional reactors, SMRs are smaller, can be constructed more quickly, and are designed to meet specific energy demands at a lower cost.
Currently, the Czech Republic derives over a third of its electricity from its six nuclear reactors and is planning to phase out coal by 2033, transitioning to a mix of nuclear and renewable energy. CEZ is also set to finalize an agreement with South Korea’s KHNP by March to build at least two more nuclear reactors in Czechia.
