Javys, a.s.

The Strategic Partner, ČEZ

In the end of 2008 the Slovak Government has decided upon the strategic partner, ČEZ. The selected investor is fulfilled all the set criteria, like the financial strength of the investor (enough capital for this investment), engineering capacity, experience with the preparation of such a construction, experience with the construction and operation of a nuclear power plant (ČEZ has experience with the Dukovany and Temelín nuclear power plants and it is currently preparing to build two more units in Temelin), experience with licensing processes at regional and international levels (the Czech and Slovak legislations have a similar framework), also the capacity of the ČEZ company to back up outages in the Slovak transmission grid with its reserve sources, and in case of need the capacity to manage the export and import of electricity.

The historic links between Czech and Slovak energetics and the nuclear industry altogether, are among those most close in the whole of Europe. These links are further strengthened by the new nuclear power plant project. Both the project's partners share a common history. The Czech and Slovak republics shared the same transmission grid until 1993. Both countries have together constructed pressurized-water-reactor-based nuclear power plants on their territories (Jaslovské Bohunice, Dukovany, Temelín, Mochovce), they both still have a similar composition of energy sources, similar legislation and regulations, but also continuing business and personal relations. Nuclear energetics is highly ecological and economical, both the countries have a long history in utilizing it and both boast a wealth of highly expert workforce in this field. Nuclear energetics in the Czech Republic and in Slovakia was founded on a common nuclear program of the former Czechoslovakia. Ever since then experts of both countries have been engaged in continuous cooperation, which will bear yet more fruit in the common new nuclear power plant project.

 

The founfation of Jadrová energetická spoločnost Slovenska (JESS)

In December 2009 the Slovak Government has approved the foundation of the Jadrová energetická spoločnosť Slovenska (JESS) corporation. In this joint venture 51 % of the shares is held by JAVYS, and 49% by the ČEZ group. The company is managed on the principle of equality of both partners, which reflects upon all the company's bodies. The Slovak JAVYS is entitled by its 51 % share to nominate the Chief Executive Officer, the Board of Directors Chairman and the Supervisory Board Chairman of the company. The ČEZ  group representatives nominate the Vice Chairman of the Board of Directors and the Vice Chairman of the Supervisory Board.

After the foundation of the company, which occurred on the 31st of December 2009, a feasibility study was made. In the process of making the study, local conditions were inspected, the suitability of available technology evaluated, the installed capacity determined, the project organization and its commercial backing as well as the financial, economic and construction costs described.

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