Slovakia buys ČEZ's JESS stake for €189.4M to clear path for new nuclear plant
What's the deal? The Slovak government has approved the purchase of ČEZDealroom has a profile for this one. Try Dealroom →'s 49% stake in the Slovak Nuclear Energy Company (JESS)Dealroom has a profile for this one. Try Dealroom → by state-run Nuclear and Decommissioning Company (JAVYS)Dealroom has a profile for this one. Try Dealroom → for €189.4 million. The money will come from state financial assets and reach JAVYS as a shareholder contribution.
Why now? The purchase is meant to settle JESS's ownership structure so preparations for a new nuclear power plant at Jaslovské Bohunice can proceed. Economy Minister Denisa Saková must arrange changes to JAVYS's statutes by October 1, with Finance Minister Ladislav Kamenický releasing the funds by October 2.
What's the endgame? The planned plant will have capacity of up to 1,200MW and is expected to be completed in 2040. The government has classified it as a strategic investment, with estimated costs of at least €10.9 billion.
The signal: By taking full state control of JESS, Slovakia is consolidating ownership of a multi-billion-euro nuclear project under public hands — a bet on new baseload generation that won't come online for over a decade.
Read more: enrsi.stvr.sk
Image credit: theslowlane
