Slovakia to Become 100-percent Owner of JESS, Purchase Agreement Signed

Bratislava, 7 October (TASR) - The Slovak Nuclear Energy Company (JESS), which is expected to build a new nuclear power facility on the site of the existing Jaslovske Bohunice nuclear power plant, will be 100-percent owned by the state, as an agreement on the purchase of a 49-percent stake in JESS from Czech energy group CEZ was ceremonially signed by the general directors of the state-owned Nuclear and Decommissioning Company (JAVYS) and CEZ at the Government Office in Bratislava on Wednesday. On 30 September, based on Prime Minister Robert Fico's (Smer-SD) proposal, the government decided that JAVYS would purchase the CEZ's 49-percent stake in JESS for €189.4 million. "We've agreed that the Slovak Republic, via its representatives, will acquire 100 percent of this company. This means that we can have access to all the documents and permits held by JESS and, through these processes, we can significantly speed up the construction of the new nuclear power facility at Jaslovske Bohunice," said Fico after the ceremonial signing of the agreement. "When we set up this joint venture almost 17 years ago, our intention was to prepare the project so that Slovakia could build a nuclear power plant at Jaslovske Bohunice. And I can say with full confidence that the Bohunice site is currently the best-prepared location for constructing a nuclear power plant in Europe," said CEZ Group general director and board chairman Daniel Benes. Over the years, said Benes, a feasibility study has been approved for the project, which has also obtained a certificate from the Economy Ministry for reserving capacity for a new nuclear power source, a positive environmental impact assessment (EIA) and a siting permit in accordance with Slovakia's Atomic Act, while land has been acquired for the project and its construction. "We've submitted comprehensive documentation, and the proceedings for a planning permit decision under the Building Act have commenced. The project has entered its next phase, and Slovakia is taking over strategically at this point," added Benes. "What matters now is that the Slovak government has assumed full responsibility for managing this project. We're prepared to work extremely hard to make it a success," added Miroslav Obert, JAVYS general director and board vice-chair. Based on the decision of 30 September, according to which JAVYS was to purchase the CEZ's 49-percent stake for €189.4 million, the government decided that the money will be released from state financial assets and that the company will receive it as a shareholder contribution to its capital fund. A new nuclear power facility with an installed capacity of up to 1,200 megawatts should be built at the Jaslovske Bohunice site. According to a decision made by the government earlier in September, the project is a strategic investment with a total cost of at least €10.938 billion. It's expected to be completed in 2040. jrg/df