ČEZ acquires nuclear engineering firm ahead of new Czech reactor build
What's the deal? Czech semi-state energy giant ČEZ has bought Energoprojekt Praha (EGP), an engineering and project design firm specialising in nuclear energy, from research institute ÚJV Řež. The transaction gives ČEZ full ownership of EGP. Neither party disclosed the price.
EGP employs around 300 specialists and plans to grow to 700. It was spun out of ÚJV Řež as a standalone subsidiary at the start of 2025 and has been ramping up staff since last year.
Why now? The deal is tied directly to the Czech Republic's plans to build new nuclear reactors at the Dukovany power plant. EGP already holds a contract worth 4.7 billion Czech koruna (roughly €185M) with Korea Hydro & Nuclear Power (KHNP) for engineering and technical support on the new Dukovany unit.
Those projects require bank guarantees and financing stretching up to 40 years — obligations that ÚJV Řež, a research-focused organisation, said would strain its balance sheet. ČEZ, with 2024 net profit of 27.4 billion koruna, has the capital to back them.
"The sale to a financially strong partner will allow EGP to fully develop its potential in large-scale energy projects, especially in connection with the preparation and construction of new nuclear sources," said ÚJV Řež chief executive Martin Ruščák.
What could go wrong? Large nuclear construction projects are notorious for delays and cost overruns. Coordinating a 40-year financing horizon with shifting political priorities — the Czech state holds roughly 70% of ČEZ — adds another layer of risk. Scaling EGP's workforce from 300 to 700 in a tight market for nuclear engineers is also no small feat.
The signal: The acquisition reflects a broader European push to secure domestic nuclear supply chains as the continent races to decarbonise and reduce energy dependence. By bringing EGP in-house, ČEZ is vertically integrating the engineering capacity it needs for what will be one of central Europe's largest infrastructure projects in decades. For ÚJV Řež, the sale frees up capital to focus on its core research — including radiopharmaceuticals, a fast-growing sector in nuclear medicine.
Read more: e15.cz
