nuclear-news

Czechs take stake in Rolls-Royce vehicle in boost for SMRs.

Partnership with Rolls-Royce consortium to build SMRs in Czech Republic to be
underpinned by minority holding as engine maker vies to secure UK deal.

The Czech government is taking a minority stake in the Rolls-Royce SMR
consortium, which hopes to build and sell fleets of small nuclear reactors
to meet increasing demand for electricity in the 2030s. Last month, the
Czech Republic announced a strategic partnership with Rolls-Royce SMR to
build small modular reactors (SMRs) in the eastern European country. Rolls
beat six other companies in a selection process led by Cez, the country’s
state-backed energy group.

It has now emerged that the Czech government
will take an equity stake in the Rolls consortium via Cez for an
undisclosed sum, in a move that underlines its determination to advance SMR
technology.

Rolls-Royce SMR is majority owned by the FTSE 100 engine maker,
which has a stake of about 70 per cent. Other shareholders include the
Qatar Investment Authority, US energy firm Constellation and BNF Capital,
an investment vehicle set up by the billionaire Perrodo family of France.

It is not known how big a stake Cez will take in the SMR consortium,
although it is expected to come via Rolls selling down its holding. Last
year, Tufan Erginbilgic, the chief executive of Rolls-Royce, said his
intention was to take the company’s shareholding in the SMR business down
to about 50 per cent.

Times 6th Oct 2024, https://www.thetimes.com/business-money/companies/article/czechs-take-stake-in-rolls-royce-vehicle-in-boost-for-smrs-536q2njgb

October 7, 2024 - Posted by Christina Macpherson | business and costs, UK