The Czech Republic moved closer to building another nuclear reactor by pledging financial support for a project it considers key to meeting its climate goals. The government signed a deal with utility CEZ AS on Tuesday, in which it agrees to pay a fixed price for electricity from the planned new unit at the aging Dukovany atomic plant. The state has also pledged to provide a cheap loan to CEZ that will be interest-free for the duration of the construction between 2029 and 2036. While nuclear power has for years been the cornerstone of the country’s plans to curb carbon emissions and boost its energy independence, this is the first time the state has offered financial help. The plan depends on securing a European Union endorsement for the state aid. If approval is granted, the 70% state-owned CEZ says the new 1,200 MW unit will be profitable.
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