Rolls-Royce SMR Limited (Rolls-Royce SMR) and ČEZ Group (CEZ) have announced a strategic partnership to advance the deployment of small modular reactor (SMR) technology in the Czech Republic. This collaboration involves CEZ acquiring a 20% equity stake in Rolls-Royce SMR, with plans to develop up to 3 gigawatts (GW) of clean, affordable energy using Rolls-Royce SMR power plants.
The agreement enhances Rolls-Royce SMR’s capacity to implement SMR technology across Europe and globally, positioning CEZ, Rolls-Royce SMR, and its existing shareholders—BNF Resources, Constellation, Qatar Investment Authority, and Rolls-Royce—at the forefront of SMR deployment. This initiative supports the UK and Europe’s ambitious net-zero objectives and offers solutions to address climate change challenges.
Tufan Erginbilgiç, CEO of Rolls-Royce plc, expressed enthusiasm about the partnership, highlighting the shared vision and the strengthened ability to deliver stable, secure, low-carbon power. Daniel Beneš, CEO of CEZ Group, noted that this investment underscores CEZ’s commitment to international collaboration in delivering clean power both domestically and abroad. He emphasised that the Czech Republic hosts some of the world’s leading nuclear supply chain companies, and this collaboration offers a unique opportunity for growth and prosperity in the nuclear sector.
Subject to customary regulatory clearances and security assessments, CEZ will acquire a 20% stake in Rolls-Royce SMR. The companies are working collaboratively on plans for the deployment of up to 3 GW of clean, affordable energy in the Czech Republic, with early works expected to commence as soon as 2025.
This collaboration represents a significant strengthening of ties between the UK and Czech governments and signals a strong commitment to building an international supply chain. It presents substantial opportunities to develop skills in both countries and deliver significant economic growth. Nuclear energy is poised to play a key role in both the UK and the Czech Republic as they seek a secure, clean, and affordable supply of electricity for future generations.
Each Rolls-Royce SMR power station is expected to produce 470 megawatts electrical (MWe) of stable, affordable, emission-free electricity—enough to power a million homes for at least 60 years.
(Source: Rolls-Royce)