Czech government plans to invest in Rolls-Royce's small modular reactor program
Czechia plans to get involved in Rolls-Royce's small modular reactor program. The investment should be significant and the decision about it will be made in several weeks.
Czechia now has two large nuclear power stations: Temelín in South Bohemia and Dukovany in the Vysočina Region. Both are operated by the ČEZ energy company, in which the Czech state is the majority shareholder, and together they produce more than a third of the country's electricity needs. Now, the Czech government wants ČEZ to invest in small modular reactors (SMRs). Since one of the major global players in this growing field is the British Rolls-Royce company, Minister of Trade and Industry Lukáš Vlček told Czech Radio that he wants it to get a stake in the SMR program:
"The most important thing is that we have to be physically involved. I advocate for ČEZ to take an equity stake in Rolls-Royce, similar to what we did with Dukovany. Being involved in the field of small modular reactors presents a huge window of opportunity. Currently, we are in a situation where we have a very broad window of opportunity, not only in nuclear energy but also in other sectors such as chip and semiconductor technologies. But if we don’t take advantage of this window, it could be a huge economic loss for us."
"Let’s seize it, let’s take an equity stake in Rolls-Royce, but at the same time, let’s ask follow-up questions and address the challenges. Let’s actually do something about it so that it’s not just an equity investment by ČEZ in Rolls-Royce, but that we also immediately start developing other related industrial sectors, such as engineering, the electrical industry, and other fields, which can gain significant growth opportunities through this investment."
So, how large should this investment be?
"It will be in the range of several hundred million British pounds."
Or billions of Czech crowns, and the final decision should come soon, by the end of the year at the latest. Small nuclear reactors have their critics, who argue that they may be less cost-effective than traditional large nuclear power plants. Another concern is that numerous decentralized nuclear installations in many locations could present a new security risk. Nevertheless, there is growing interest in them due to the simpler licensing process and lower construction costs. The International Atomic Energy Agency says they offer potentially flexible and affordable power generation.
