OPG And ČEZ Collaborate To Advance Clean Nuclear Power

Prague /CNW/ - Ontario Power Generation (OPG) and Czech Republic-based ČEZ will collaborate to advance deployment of nuclear technology, including Small Modular Reactors (SMRs), to safely produce clean, reliable electricity in their jurisdictions, under a Memorandum of Understanding signed today.

The two entities – Ontario's largest electricity generator and one of Europe's largest energy companies – are committed to achieving net zero by 2040. Advanced reactor technology can help reach that goal.

Under the MOU, OPG and ČEZ will share information related to the deployment of new nuclear projects. The aim is to reduce financial, technical and schedule risk to both parties on their respective future projects.

New nuclear generation, including SMRs, is an essential part of the electricity mix needed to decarbonize the energy sector and broader economy. Safe, carbon-free, reliable nuclear power is especially necessary as electricity demand increases due to electrification of higher-emitting sectors such as transportation.

OPG is deploying an SMR at its Darlington site, the only location in Canada licensed for new nuclear construction with an approved Environmental Assessment. The company recently announced a contract with ES Fox to proceed with early site work, pending permits and regulatory approvals. The Darlington SMR is expected to be operational by the end of this decade.

In Europe, ČEZ has taken first steps toward expanding its nuclear fleets at Temelin and Dukovany.

Quotes
"Ontario Power Generation is a world-class nuclear operator, with decades of experience in providing safe, clean, reliable nuclear power," said OPG President and CEO Ken Hartwick. "Working together with entities like ČEZ, we can leverage our combined experience to develop and build the new technology needed to power the future and meet decarbonization goals."

"As a company, we are focused on developing new energy solutions and technologies," said Tomáš Pleskac, Member of the Board of Directors and Chief of the New Energy Division ČEZ. "We are preparing for the construction of a new nuclear unit in Dukovany and the upcoming allocation of space at Temelín, where the first SMR could be built in the first half of the next decade. The collaboration with OPG is therefore, for us, a logical step forward."

"Ontario is proud to lead the way on clean nuclear technologies," said Ontario's Energy Minister Todd Smith. "With our robust nuclear supply chain and talented workforce, we are ready to support the global deployment of our nuclear expertise that will help reduce emissions while delivering energy security to the world."

About OPG
As a climate change leader and the largest electricity generator in the province, OPG and its family of companies are helping lead the charge to a post-carbon economy.

About ČEZ
ČEZ Group is a leading European energy company operating in the Czech Republic and in Western, Central, and South-Eastern Europe. ČEZ' strategy aims to maximize the business opportunities associated with the modernization, digitalization, and decarbonization of the energy sector in the EU.