BUSINESS IN SHORT

ČEZ to help build new nuke plant

THE SLOVAK Cabinet on December 17 picked Czech energy group ČEZ as a strategic partner for construction of a new nuclear power plant in Jaslovské Bohunice. The Czech company will establish a joint venture with the state-run nuclear decommissioning company Jadrová Vyraďovacia Spoločnosť (JAVYS), in which the state will hold a 51-percent stake, the SITA newswire wrote.

THE SLOVAK Cabinet on December 17 picked Czech energy group ČEZ as a strategic partner for construction of a new nuclear power plant in Jaslovské Bohunice. The Czech company will establish a joint venture with the state-run nuclear decommissioning company Jadrová Vyraďovacia Spoločnosť (JAVYS), in which the state will hold a 51-percent stake, the SITA newswire wrote.

"We were assessing 10 potential investors," said Economy Minister Ľubomír Jahnátek. “Based on seven criteria ČEZ was selected as the most suitable firm for this project.”

Further foreign investors under consideration were German firms RWE, E.ON and EnBW, the French company Electricite de France (EdF), energy company Electrabel (a member of the GdF Suez concern), Italy’s Enel, Sweden’s Vattenfall, Iberdrola from Spain, and the Finnish firm Fortum Oyj.

Investment in the new nuclear power plant could reach €4-€6 billion. The cost of preparatory works costs is estimated to cost over €230 million. The Economy Ministry, however, did not elaborate on the type or output of the new plant. A decision should be made in October 2010. But it has to meet tough security requirements, at least meeting the level of so-called third generation nuclear power plants.
The new nuclear power plant should be completed by 2020. The preparatory phase should end in the year 2014, when the construction itself should commence.

There are already two nuclear power stations in Jaslovské Bohunice. While the first block of the V-1 nuclear power station was closed down at the end of 2006, the second block must be shut down by the end of this year. Slovakia pledged to put the facilities out of the operation as part of the conditions for European Union entry. There is another nuclear plant at the site, the V-2, operated by Slovenské Elektrárne. This major power producer also runs two blocks at Slovakia’s other nuclear power station in Mochovce. It started construction of two further blocks at Mochovce earlier this year.

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