Czechs Buy Stake In Rolls-Royce SMR Ahead Of Joint Project [Barron's]
ROLLS ROYCE HLDGS S/ADR (RYCEY)
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Source: Barrons
The two companies signed a deal Tuesday to develop and produce SMRs together, with the first one to be installed at the Temelin nuclear plant in the Czech Republic roughly by 2035. CEZ runs two nuclear plants in the EU member state of 10.9 million people -- Temelin and Dukovany, both in the south of the country, with total output of some 4,000 megawatts, which covers around 30 percent of Czech power consumption. "We have an ambitious plan to build 3,000 megawatts by 2050," CEZ chief executive Daniel Benes told reporters, hailing the deal as "a historic milestone in the Czech nuclear programme". Benes said the total costs have not been calculated yet, but Rolls-Royce SMR chief executive Tufan Erginbilgic said the project was "a multi-billion-pound opportunity". "As partners, we brought together engineering and financial expertise alongside nuclear pedigree to ensure we can deliver on the shared goal on building stable, secure, low-carbon power," Erginbilgic said. The Czech g
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