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Rolls-Royce Holdings PLC (LSE:RR) has been designated as the preferred supplier of civil aerospace reactors by the state-owned Czech utility company ČEZ Group. This announcement has been described as a "landmark" development by Chris Cholerton, the chief executive of Rolls-Royce’s small modular reactor (SMR) division. Ongoing discussions are currently focused on finalizing contract terms.
In a competitive selection process, Rolls-Royce outperformed seven other SMR technology providers, reinforcing its status as a leader in the European SMR market. Cholerton emphasized that this strategic partnership enhances Rolls-Royce SMR’s position and positions both ČEZ and its existing stakeholders at the forefront of SMR deployment.
The Czech government views the project as a significant step toward modernizing the national energy sector while simultaneously creating new opportunities for the domestic industry. To further bolster its SMR division, Rolls-Royce has been actively seeking additional funding, successfully raising substantial capital from investors thus far.
Rolls-Royce's small modular reactors are notably smaller than traditional nuclear reactors, which typically have capacities exceeding 1,000 megawatts (MW). Each Rolls-Royce SMR occupies a physical footprint of approximately 1.5 hectares, in stark contrast to the 100 hectares required for a large-scale reactor. Designed to generate 470 megawatts of electrical power, each SMR has the capacity to supply energy to around one million homes.
This initiative not only represents a significant technological advancement but also highlights Rolls-Royce’s commitment to sustainable energy solutions. The deployment of these SMRs is expected to play a crucial role in shaping the future of energy production in the Czech Republic and potentially across Europe, as the industry seeks to balance energy needs with environmental considerations.
