Homepage News ČEB finances Armenian nuclear power plant modernization

ČEB finances Armenian nuclear power plant modernization

Date: 1. 10. 2017

Source: Hospodářské noviny

Czech Export Bank (ČEB) enters Armenian market. It will provide bank guarantees amounting to 21 million CZK to Czech producer Škoda JS for export of technologies for modernization of Armenian nuclear power plant Metsamor.

"This is a delivery of reactor drives control system"says Josef Perlík, the Chairman of the Board of Directors and General Director of ŠKODA JS a.s. "We have implemented a similar system on VVER 440 units in the Czech and Slovak Republic and at present deliveries for PAKS nuclear power plant are being implemented in Hungary. Same as on the already implemented deliveries, in this project ŠKODA JS a.s. also cooperates with company ZAT a.s.".

"Czech Export Bank shall provide guarantees of one million dollars, which is approximately 21 million Czech crowns, for the delivery of the special technology with high added value for Armenian nuclear power plant Metsamor. This contract represents a success for the entire Czech energy sector and also for the Czech Export Bank, since this is our first business case in Armenia", explains Karel Bureš, the Chairman of the Board and General Director of ČEB.

Czech Export Bank has been cooperating successfully with Škoda JS a.s. since 2001. During this period ČEB has helped the local producer to export technologies worth 11.4 billion CZK. "Thus this year ŠKODA JS a.s. can participate for example in increasing the safety of the largest European nuclear source – Ukrainian power plant Zaporozhye", adds Jan Černý, the spokesperson of ČEB.

The Metsamor power plant is situated approximately 30 kilometers from Yerevan, the capital of Armenia, and its output covers nearly half of the country's electricity consumption. The plant is equipped with Soviet VVER 440 V 270 reactors that are very similar to the Dukovany reactors but they are modified for demanding seismic conditions. Due to their location in the tectonically active area, the operation and modernization of Metsamor are demanding.