Czech power company CEZ signs deal with Britain's Rolls-Royce SMR to build modular nuclear reactors [Yahoo! Finance Canada]
ROLLS ROYCE HLDGS S/ADR (RYCEY)
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Source: Yahoo! Finance Canada
small modular nuclear reactors Under the agreement, CEZ will acquire a 20% share in Rolls-Royce SMR for which it will pay several billion Czech crowns (hundreds of millions of dollars). CEZ plans to build the first small modular reactor at the existing Temelin nuclear plant in the first half of the 2030s. The partnership is expected to result in up to 3 GW energy sources installed in the Czech Republic. CEZ will also participate in other projects by Rolls-Royce SMR in Europe and around the world. The Czech state has an almost 70% stake in the company. “It's an important moment for ensuring energy security of the Czech Republic,” Czech Prime Minister Petr Fiala said. A power plant using a small modular reactor by the British company should produce 470 MW for 60 years, CEZ said in a statement. Small modular reactors are a type of nuclear reactor that can generate up to roughly one-third the amount of power of a traditional reactor. Developers say small reactors will be bu
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