Westinghouse modular reactors could bring Czechia CZK 293 billion by 2050, PwC says

Westinghouse today presented the results of a study prepared by PwC examining the economic benefits of deploying AP300™ SMR small modular reactors with a combined capacity of 3,000 MW. According to the report, the project could add up to CZK 292.7 billion to Czech GDP over 25 years during the construction and installation phase.

The study assumes that, in addition to the aforementioned contribution to GDP, the manufacturing, engineering and construction phase of the AP300 SMR project will generate 80,000 person-years, meaning jobs expressed as the number of years worked per person. This equates to around 3,200 full-time jobs per year. Once operational, the AP300 SMR project is estimated to contribute CZK 95.3 billion to Czech GDP each year and help create around 8,500 direct and indirect jobs.

The project to deploy a fleet of AP300 SMR reactors also offers educational benefits. Cooperation with Czech universities will provide specialist training in nuclear energy for current engineers, chemists and technicians, with approximately 3,000 workers subsequently able to be involved in operations.

The PwC consultancy study also highlights the potential for the Czech supply chain to participate in the construction of AP300 SMR reactors worldwide, which would bring an additional CZK 4.8 billion to the Czech economy for each installed unit. Czech companies will also have the opportunity to participate in global projects to build advanced AP1000® pressurised water reactors.

AP300 SMR technology is in line with the European Green Deal objectives and will help the Czech Republic achieve its energy transition. The project will provide zero-emission energy for 1.95 million households in Czechia.

Small modular reactors have public support. A June survey by NMS Research showed that nearly two-thirds of Czechs would support the construction of SMRs close to where they live, while 72% of Czechs support the use of nuclear energy.

The full report is available here.