Czech power company ČEZ has signed a deal with U.K. company Rolls-Royce SMR to prepare for building the first small modular nuclear reactor in the Czech Republic

ByThe Associated Press

PRAGUE -- The Czech power company ČEZ signed a deal on Friday with Rolls-Royce SMR on preparatory work for the British company to build the first small modular nuclear reactor in the Czech Republic.

ČEZ chief executive Daniel Beneš said that the work includes the project plan and licensing documentation necessary for issuing building permits for the reactor.

Beneš said the company hopes to have all the approvals by 2030. The small nuclear reactor will be built at the site of the existing Temelín nuclear plant.

On April 13, Great Britain Energy – Nuclear, a government agency, inked a contract with Rolls-Royce SMR to begin design work for the first small nuclear reactors in the U.K.

Beneš said that the Czech small nuclear reactor will be the second one built by the British firm after the first one is completed in the U.K.

ČEZ has a 20% share in Rolls-Royce SMR and the companies had signed a deal about a strategic partnership, which should result in up to 3 gigawatt energy sources installed in the Czech Republic.

The Czech state has an almost 70% stake in ČEZ and the government is taking steps to acquire full control of the company.

Small modular reactors are a type of nuclear reactor that can generate a smaller amount of power than a traditional reactor. Developers say small reactors will be built faster and at a lower cost than large power reactors, scaling to fit the needs of a particular location.