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Slovakia Approves €189 Million to Buy CEZ Stake in Nuclear Project

Cierra Seay
Published Sep 30, 2026
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Summary:
  • The government approved €189 million ($214 million) to purchase CEZ AS's 49% holding in Jadrová energetická spoločnosť Slovenska.
  • The buyout removes a key hurdle to building a 1,200 megawatt reactor under full state control, with JESS currently 51% owned by state-run JAVYS.
  • EY put the stake's value at €189 million; the Economy Ministry objected at first, but KPMG later verified that amount.

What the Government Approved

Slovakia greenlit €189 million, about $214 million, to acquire CEZ AS's 49% share of Jadrová energetická spoločnosť Slovenska, known as JESS. JESS was created to develop the country's next nuclear unit with a planned capacity of 1,200 megawatts. The state-owned company JAVYS already holds 51%, and officials said bringing the CEZ stake under state ownership clears a major roadblock to building the reactor fully under government control.

How the Price Was Agreed

The valuation did not come together overnight. EY pegged CEZ's share at €189 million, which the Slovak Economy Ministry initially disputed. After a second look by KPMG confirmed EY's estimate, the price point stuck and the cabinet moved ahead with the funding.

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Who Might Build It

For everyday readers, the takeaway is that the state is tightening its grip on a strategic energy asset and lining up a potential technology partner. If you track Europe's power buildout, it is another sign that governments are still writing big checks to keep nuclear in the mix.

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