Slovak power company Slovenské Elektrárne (SE) has signed a contract with Urenco Group for the supply of enriched uranium for its Bohunice and Mochovce NPPs until the mid-2030s. The contract is the result of an international tender announced in early 2024. “At a time of geopolitical uncertainty and impaired balance between supply and demand in the nuclear material market, ensuring stable and reliable supplies is key to the safe and reliable operation of Slovak NPP,” said SE.
SE Chairman & CEO Branislav Strýček noted: “We are pleased that through future cooperation with Urenco Group, we can ensure the diversification of our business relationships. It will help us continue to maintain the stable and secure operation of our nuclear power plants.”
Laurent Odeh, Sales Director of Urenco Group said: “At Urenco Group, we are very proud to be entering a new market with a new customer, and I would like to thank Slovenské elektrárne for their trust.”
Nigel Baker, British Ambassador to Slovakia said the diversification of energy supplies is key to national security. “The long-term contract between Urenco and Slovenské elektrárne helps Slovakia achieve this goal and ensures a reliable alternative to the supply of enriched uranium for the operation of the Slovak nuclear industry in the years to come.” He added that it also helps to strengthen the links between Slovakia and the UK.
Urenco, headquartered in the UK, was founded in 1970 following the signing of the Treaty of Almelo by the governments of Germany, the Netherlands and the UK. It has enrichment facilities in Germany, the Netherlands, the UK and the USA. It is one-third owned by the UK government, one-third by the Dutch government and one-third by the German utilities EON and RWE AG.
Slovakia currently has five nuclear reactors – three at Mochovce and two at Bohunice – generating half of its electricity, and it has one more at Mochovce under construction. Both plants are operated by SE. In February 2023 Jadrová Energetická Spoločnosť Slovenska (JESS) submitted a request to the Slovak Nuclear Regulatory Authority (ÚJD) for a siting permit for a new NPP near the Bohunice plant.
SE has two shareholders. The majority shareholder is Slovak Power Holding BV (SPH), which owns 66%. In SPH, 50% of the share capital is owned by the Czech energy group Energetic & Primense Holding (EPH) and the remaining 50% by the Italian company ENEL. The Slovak Republic has a share of 34% in power plants.
In December 2024, ENEL and EPH signed an agreement under which EPH, as envisaged by the early redemption option, would buy 50% of the share capital currently owned by ENEL in SPH. The closure of the transaction, which is expected in the first half of 2025, is conditional on the fulfilment of certain conditions, including approval by the regulatory authorities.
