CEZ seeking partner to help complete nuclear power plant in Czech Republic

Czech Republic utility CEZ Energy said it intends to consider the possibility of a strategic partnership in the completion of the Temelín Nuclear Power Station. Currently, the Temelín station houses two VVER 1000 Type V 320 pressurized water reactors that generate about 2,000 MW, the largest source of power in the Czech Republic.

CEZ said it is usual that nuclear projects in Europe are built and operated by consortiums, while making reference to the EDF and Enel partnership constructing the Flamanville project in France. CEZ has received bids from several parties and said the partnership selection will take place after the contract with a supplier is signed, which is expected to happen in 2013.

"CEZ is prepared to fund the project using its own resources and available debt capacities; however, there are many other interesting investment opportunities, which the CEZ Group might reach if a strategic partner joins the consortium,” said Daniel Beneš, chairman of the Board of Directors and CEO of CEZ.

“CEZ may also profit from the strategic partnership by acquiring new know-how connected with the building of nuclear power stations."

CEZ said the market analyses show that it is possible to invite more than ten energy companies, most of which are based in Europe, which either have already shown interest or may become interested in negotiations about such partnership.

The Temelín expansion is expected to be complete near 2020.

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