Study Reveals Initial Economic Contribution of Kč 292.7 Billion to GDP with an Additional Kč 95.3 Billion Annually Once Units are Operational
Prague, Czechia, September 10, 2024 – Today, Westinghouse Electric Company released a comprehensive, independent report conducted by PricewaterhouseCoopers LLC (PwC) highlighting the substantial economic benefits of deploying 3 gigawatts (GW) of nuclear power through a fleet of AP300™ small modular reactors (SMRs) in Czechia.
The report estimates the manufacturing, engineering and construction phase of the AP300 SMR reactor program to generate Kč 292.7 billion in gross domestic product (GDP), along with 80,000 person-years of employment. Once operational, the AP300 SMR program would contribute Kč 95.3 billion to GDP in Czechia and support a total of 8,500 direct and indirect jobs annually.
“Westinghouse has been a proud partner to Czechia for over three decades with the supply of nuclear technology, services and fuel to keep the country’s nuclear power plants operating safely, reliably and efficiently,” said Dan Lipman, President of Westinghouse Energy Systems. “The deployment of our AP300 SMR reactor offers significant benefits to Czechia’s economy, workforce and clean energy goals for the next 100 years.”
Further findings from the detailed PwC report include:
- The AP300 project will provide cutting-edge nuclear skills to today’s engineers, chemists and technicians via partnerships with local, higher education institutions. More than 3,000 local employees will be trained to work at the project once operational.
- Czechia’s supply chain can be leveraged for future global AP300 SMR reactor developments, which would deliver a further Kč 4.8 billion of GDP for each unit installed, as well as for Westinghouse’s advanced, AP1000® pressurized water reactor projects across the world.
- Westinghouse’s AP300 SMR technology aligns with the European Green Deal commitments and supports Czechia’s goals to meet its energy transition targets. This SMR program will provide carbon-free energy to power at least 1.95 million homes in Czechia.
The report follows on the heels of a public opinion survey conducted in June by NMS Market Research in partnership with the Czech Power Industry Alliance (CPIA) and Westinghouse, which found 72% of Czechs endorse the use of nuclear energy.
The AP300 modular reactor is the only SMR based on an advanced, large Generation III+ reactor already in operation globally. Westinghouse is targeting design certification by 2027 and for first construction to begin by 2030, with the operating unit planned to be available in the early 2030s. The AP300 SMR is being considered by the UK’s Great British Nuclear program and is under further customer consideration in Europe and North America.
Download the full report – The Economic Impact of Westinghouse’s AP300 Small Modular Reactor Fleet Project for Czech Republic.
