19th Sep 2024 21:12
(Alliance News) - Rolls-Royce Holdings PLC welcomed news that the Government of the Czech Republic and the Czech state utility, CEZ Group, has named Rolls-Royce SMR as their preferred supplier for the development and construction of small modular reactors.
In a statement on Wednesday, the Czech government said that the project would "help modernise the Czech energy industry and open up new opportunities for the domestic industry".
It said it expected local companies to play a significant role as Rolls-Royce was "just forming its supply chain".
Rolls-Royce SMR Chief Executive, Chris Cholerton, said he welcomed the news.
"This decision, to select Rolls-Royce SMR from a list of seven potential SMR technology providers, follows a rigorous evaluation process by CEZ Group. Discussions are ongoing to finalise contract terms and the final agreements are subject to customary regulatory clearances. Details of the agreement will be published at signing."
"This important strategic partnership further strengthens Rolls-Royce SMR’s position as Europe’s leading SMR technology, and will put CEZ, Rolls-Royce SMR and its existing shareholders at the forefront of SMR deployment."
"Rolls-Royce SMRs will be a source of clean, affordable, reliable electricity for Czechia – creating jobs, enabling decarbonisation, reducing the reliance on imported energy and supporting the global effort to reach net zero."
Shares in Rolls-Royce closed 5.5% higher at 523.20 pence in London on Thursday.
By Jeremy Cutler, Alliance News reporter
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