ČEZ, which is majority Czech-state-owned, is selling its stake in JESS (Jadrová energetická spoločnosť Slovenska) to Slovakia’s state-owned JAVYS.
The Czech company said: “The construction of new nuclear power plants is carried out all over the world under the direction of the state, which is why this sale is being made.”
It said the valuation of the stake was prepared by global accountants EY and confirmed by KPMG.
JESS was established in December 2009 with the goal of preparing for new nuclear capacity in the vicinity of the existing Bohunice nuclear power plant.
Slovakia’s Prime Minister Robert Fico, speaking after the signing of the agreement to sell the stake, said: “We have agreed that the Slovak Republic, through its representatives, will acquire 100% of this company, which means that we can have all the documents and permits that JESS has at its disposal, and through these processes we can significantly accelerate the construction of a new nuclear power plant in the Jaslovské Bohunice area.
“If we have a chance to build a new nuclear power plant, we must go full steam ahead and with full commitment.”
Earlier this year the Slovak Republic and the USA signed a memorandum of cooperation for what the US State Department said would be a “state-owned American 1,200 MWe nuclear unit”. Fico said the project had been granted the status of a strategic investment, adding: “We have a huge lead in terms of preparing the territory, in terms of permits, and it would be very bad if we did not use this lead.”
Slovakia currently has five nuclear reactors generating more than half its electricity, with one more reactor currently under commissioning. The first two, at Bohunice, went into commercial operation in 1984 and 1985, respectively, while Mochovce 1 and 2 were connected to the grid in 1998 and 1999, respectively. Construction of Mochovce 3 and 4 began in 1986 but was halted in 1992. It was later restarted and Mochovce 3 entered service in 2023, with Mochovce 4 expected to be operating at full power within the next few months.
When Mochovce 4 is at full capacity, nuclear will be providing the equivalent of 77.5% of Slovakia’s electricity consumption, the highest proportion for any country, even without the new unit at Bohunice.
Fico said: “If we are to continue to be an automotive powerhouse, we need new energy sources. If we are to seriously talk about artificial intelligence, data centres and if we are to fulfill the plan that the European Commission is talking about, then no other path than the path of building a new nuclear power plant is possible.”
