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CEZ to take stake in Rolls-Royce SMR to roll out small nuclear plants

Czech electricity producer CEZ will take a minority stake in RollsRoyce SMR to take part in the little nuclear reactor technology's rollout in Britain, the Czech Republic and beyond, the companies stated on Tuesday.

CEZ will take around 20% stake in Rolls-Royce SMR pending regulatory approvals, and plans to install up to 3 gigawatts of capacity in small nuclear plants made by the organization, the companies said in a statement.

Little reactors are being developed by significant global nuclear energy suppliers with the aim of producing an easily replicable power plant technology that would be faster and simpler to release than conventional plants.

The contract enhances Rolls-Royce SMR's capability to deploy SMR technology in Europe and globally, and puts CEZ, Rolls-Royce SMR, and its existing investors, BNF Resources, Constellation, QIA and Rolls-Royce at the forefront of SMR release, CEZ stated in a statement.

The Czech group aims to have the first reactor operational in the mid 2030s at its Temelin website in southern Czech Republic as part of strategies to change coal-fired plants.

The Rolls-Royce SMR project has output of 470 megawatts per system, which suffices to power about a million homes, with a. lifespan of at least 60 years.

CEZ operates six standard atomic power plants at its. Dukovany and Temelin plants, and has actually likewise selected South Korea's. KHNP to construct 2 large nuclear reactors at Dukovany.

(source: Reuters)