CEZ to invest Kc100bn in energy transformation in Usti Region by 2030

Prunerov, North Bohemia, May 16 (CTK) - Semi-state energy group CEZ will invest Kc100bn in the transformation of the energy and heating sector in the Usti Region by 2030, which should help preserve the current system of central heating supply, CEZ representatives said today.

The current central heating system has been in operation for decades in most of the larger towns in the region. CEZ will build new sources of heat and electricity and will contribute to the development of education and the preservation of jobs.

Further investments will follow until 2040, company representatives said.

"The plan is being prepared individually for each locality, the basis will be biomass and we expect peak demand for heat to be supplemented from gas," CEZ deputy board chairman Pavel Cyrani told CTK today.

CEZ has prepared funds for the investments, but according to the company's representatives, it also counts on support from state or EU sources. According to Cyrani, the transformation of the energy sector into a low-carbon one is necessary and must be carried out in a short time. Support from the state or Europe could ensure that heat supply is also affordable for consumers.

One of the investments is the acquisition of a 100 percent stake in ACTHERM Distribuce, which supplies heat to the town of Chomutov from the Prunerov II power plant. The transaction was completed today, CEZ officials announced.

CEZ is the largest investor in the Usti Region, employing 6,200 people there. According to Cyrani, CEZ wants to build new heating sources that will ensure safe and stable heat supplies to local citizens and companies for decades to come, as well as new ecological sources for electricity generation, especially on the land of power plants and mines. It is also working on innovative projects with high added value, such as lithium processing.

These development projects and the modern energy sector should also create jobs and provide a boost for research. Therefore, CEZ wants to intensify its cooperation with secondary schools and the university in Usti nad Labem.

CEZ is about 70 percent owned by the state.

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