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Czech cabinet should decide nuclear power financing by end of year: Minister

Czech cabinet should decide nuclear power financing by end of year: Minister

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Majority state-owned utility CEZ has refused to invest in new plants without some form of state support. It has proposed a spin-off of its renewables and energy services businesses to investors to help pay for the expansion

PRAGUE: The Czech government should decide on how to finance a multi-billion dollar expansion of nuclear power plants by the end of the year, Industry Minister Marta Novakova told Czech Television on Friday.

Majority state-owned utility CEZ has refused to invest in new plants without some form of state support. It has proposed a spin-off of its renewables and energy services businesses to investors to help pay for the expansion – although Prime Minister Andrej Babis has objected to this.

Babis told Reuters on August 1 that he wanted the decision on financing by the end of the year.

Czech Television quoted Novakova as saying – after a meeting of state and CEZ officials on Friday – that CEZ could not be left out of the process.

Source: reuters
Anand Gupta Editor - EQ Int'l Media Network

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