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Czech government approves framework plan for 1.2 GW nuclear project

The Czech government has approved a plan by Elektrárna Dukovany II, a subsidiary of national power group ČEZ (70% state-owned), to build a 1,200 MW nuclear power plant and has decided to provide guarantees to help the group secure cheaper financing. However, the government maintains its previous stance regarding the financing of the project, which should be assumed by ČEZ. In particular, the government refuses to provide a return guarantee for a contract-for-difference (CfD) or a price guarantee.

ČEZ already operates four VVER-440 reactors at the Dukovany nuclear power plant (2,040 MW) and two VVER-1000 reactors at the Temelín plant (2,160 MW) and expects to built a new unit at Dukovany site. The group expects to select suppliers by 2024 and to commission the new reactor by around 2035. Replacing the older reactors with new units is viewed as crucial for the country’s energy security, as the four Dukovany reactors are expected to be shut down permanently between 2035 and 2037. It should also help it phase out coal-burning plants and curb CO2 emissions.

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