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€6.15 Billion to be Invested in New Power Capacity by 2030 as the Country Gradually Moves Away from Coal
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The Czech Republic sits at the heart of the European energy network, with connections to Poland, Germany, Austria, and Slovakia. The country invested heavily in upgrading existing coal plants in the 1990s and this, along with its 6 nuclear reactors, means that it is a significant regional exporter of electricity. Coal will continue to play an important role in the country’s fuel mix, despite the Czech Republic signing up to an EU pledge to construct no new plants. By 2030, 40% of installed capacity and 50% of electricity is forecast to come from coal. The excess in generation capacity has been a restraining factor on new investments in the past decade, with the exception of solar photovoltaic (PV).The period 2011–2013 saw fast solar capacity growth, supported by regulatory incentives. However, investments stopped in 2014, after the Czech Republic enacted retrospective changes that ended incentives and ultimately damaged investor confidence in the political stability of the support regime in the country. There is limited regulatory or incentive support for wind and solar power; as a result, investments in both will be limited. Wind faces local opposition to new developments on aesthetic grounds.In terms of new investments, a total of €6.1 billion is forecast be invested by 2030, a majority of which will be in gas-fired generation. There has been a proposal for a new nuclear reactor at Temelin, but the lack of demand is a major restraining factor. Despite proposals for energy market reforms, CEZ will continue to play a leading role in the sector—from generation to retail. A number of the European majors, including Innogy and E.On, own transmission and distribution assets in the country. There are limited plans for further investments, as other country markets are prioritised. Other companies active in the market include: PREdistribuce and Prazska Energetika—a major stake which is owned by EnBW, Bohemia Energy, and Centropol Energy.
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