Rolls-Royce SMR and Czech power company ČEZ have agreed to join forces to support deployment of Rolls-Royce SMR’s small modular reactor (SMR) technology. This will involve an equity investment by ČEZ into Rolls-Royce SMR and a strategic partnership to deploy up to 3 GWe in the Czech Republic using Rolls-Royce SMR power plants. Subject to customary regulatory clearances and security assessments, ČEZ will make an investment into Rolls-Royce SMR, acquiring a stake of approximately 20%.
Rolls-Royce SMR says the agreement strengthens its ability to deploy SMR technology in Europe and globally, and puts ČEZ, Rolls-Royce SMR, and its existing shareholders, BNF Resources, Constellation, Qatar Investment Authority and Rolls-Royce at the forefront of SMR deployment.
Tufan Erginbilgiç, CEO of Rolls-Royce plc welcome ČEZ as a strategic investor and partner in Rolls-Royce SMR. “We have a shared vision and ČEZ further strengthens our ability to build stable, secure, low carbon power – delivering on our promise as a leading SMR business,” he said. “Today’s announcement ensures that the Rolls-Royce SMR business is set up for success in the UK, the Czech Republic and around the world.”
Daniel Beneš, CEO of ČEZ Group, said the investment “enables our commitment to international collaboration in delivering clean power at home and abroad”. He added: “The Czech Republic hosts some of the world’s leading nuclear supply chain companies. 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 ČEZ and other local companies to play a significant role in its future global production.”
In September, Czech Prime Minister Fiala had announced that ČEZ and Rolls-Royce SMR would enter a strategic partnership to enable the development and construction of SMRs in the Czech Republic. ČEZ and Rolls-Royce SMR will work to finalise contractual order terms for an order of the first unit with early works expected to commence as soon as 2025. ČEZ will support Rolls-Royce SMR to deploy SMR projects across Europe, leveraging the learning curve and knowledge transfer across projects. The collaboration is expected to last several decades.
The Rolls-Royce SMR is a mostly factory-built 470 MWe design based on a small pressurised water reactor, measuring about 16 metres by 4 metres. It will provide consistent baseload generation for at least 60 years. In July, it completed Step 2 of the UK’s Generic Design Assessment process and progressed to the third and final phase. The target date to complete that final stage is August 2026. Rolls-Royce SMR is one of four shortlisted by the UK as a preferred supplier for its own SMR programme.
The Czech Republic currently gets about one-third of its electricity from four VVER-440 units at Dukovany, which began operating between 1985 and 1987, and the two VVER-1000 units in operation at Temelín, which came into operation in 2000 and 2002. In July, Korea Hydro & Nuclear Power was named the preferred bidder for up to four new units at the two NPP sites, with the first unit expected to begin commercial operation in 2038.
The Czech SMR roadmap was published and approved in 2023. It sets conditions for technology suppliers and identifying 45 potential sites as well as investor models with the aim of SMRs complement large nuclear units from 2030s-40s. In September the Czech Ministry of Trade selected Rolls-Royce SMR from a shortlist of seven.
