International law firm Simmons & Simmons, together with Czech law firm Pokorný, Wagner & partneři, has advised leading European energy operator ČEZ Group on a small modular reactor (SMR) deal with Rolls-Royce.
The arrangement will see an equity investment by ČEZ into Rolls-Royce SMR, alongside a strategic partnership enabling ČEZ Group to deploy up to 3GW of electricity in the Czech Republic using Rolls-Royce SMR power plants.
Small modular reactors (SMRs) are advanced nuclear reactor units delivering cost competitive and scalable net zero power. Rolls-Royce is one of the leading companies developing the technology.
ČEZ Group is one of the largest companies in the Czech Republic and a leading energy group operating in Western and Central Europe.
The agreement places ČEZ and Rolls-Royce at the forefront of SMR deployment, while supporting efforts in Europe to reach ambitious net zero goals and address the challenges of climate change.
The Simmons team advised ČEZ Group on its investment and related commercial arrangement. The cross-practice team was led by corporate Partners Isabella Roberts and Arthur Stewart - supported by IP Partner Angus McLean; competition Partner David Trapp; nuclear energy, natural resources and infrastructure (ENRI) Partner Juliet Reingold, and tax Partner Helen Coward.
Managing Associate Anna Bryant and Associate Halle Broadbent assisted on corporate and commercial matters; Supervising Associate James Agnew assisted in relation to Intellectual Property matters and Managing Associate Duncan Green assisted on Competition regulatory matters.
Simmons is a leading firm in the nuclear sector - through its capabilities and experience financing international energy projects, the firm represents many of the world's largest energy companies on new nuclear developments.
Isabella Roberts commented: "This major SMR deal promises to increase the capacity and reach of this cutting-edge, clean energy technology, and will play a key part in supporting Europe's net zero goals".
Arthur Stewart commented:"Our team was able to draw on its extensive international experience with nuclear projects to support the arrangement. It's been a pleasure to advise ČEZ on a deal of such strategic importance, working alongside Barclays".
