CEZ expresses interest in Slovenské Elektrárne

State-owned Czech utility CEZ has sent an expression of interest for a 66% stake in Slovak utility Slovenské Elektrárne, which is currently owned by Italy's Enel, CEZ spokesperson Barbora Pulpanov told World Nuclear News today. The Slovak economy ministry holds the remaining 34% stake.

Enel paid €840 million ($1.1 billion) for its stake in Slovenské Elektráne and, as part of the transaction, it agreed to complete construction of two additional reactors at the Mochovce nuclear power plant.

"Integration of CEZ and Slovenské Elektrárne would bring synergies in operations and development of nuclear and hydro power plants in both countries," Pulpanov said. "CEZ also expressed the necessity of detailed analysis and resolution of outstanding issues related mainly to construction of Mochovce nuclear power plant."

Slovenské elektrárne operates nuclear, hydro and coal power plants with a total installed capacity of 5.7 GWe.

Pulpanov was referring to work to complete units 3 and 4 of the Mochovce plant. Construction began on those units in 1986 and resumed in 2008 after a 16-year hiatus. Mochovce 3 and 4 had been expected to start up in 2012-2013.

Enel told World Nuclear News in July that Slovenské Elektráne's management and staff were "engaged in providing their full support" to police in an investigation into the privatization of the Slovak utility.

Enel earlier that month launched a program to sell its holdings in Romania and Slovakia, including its stake in Slovenské Elektráne. Divestment of its Romanian and Slovakian assets is part of a €6 billion ($8 billion) asset sale begun by Enel in 2013 to reduce the group's financial debt.

Researched and written
by World Nuclear News