Czech CEZ Acquires 20% Stake in Rolls-Royce SMR

Czech electricity producer CEZ has agreed to acquire a 20% stake in Rolls-Royce SMR, aiming to deploy small modular nuclear reactors (SMR) in the Czech Republic and potentially elsewhere. The partnership will enable CEZ to install up to 3 gigawatts of capacity using Rolls-Royce SMR technology, with plans to build the first reactor at the Temelin site by the mid-2030s. This initiative aligns with the Czech Republic's strategy to phase out coal by 2033 and enhance energy security through nuclear power. The SMR technology offers a more scalable and cost-effective solution compared to traditional reactors, generating 470 megawatts per unit over a lifespan of 60 years. The agreement also positions CEZ and Rolls-Royce SMR as key players in the European nuclear energy sector. CEZ is expected to further engage in other projects globally while continuing its collaboration with South Korea's KHNP for additional nuclear reactors.