Financing of the Polish nuclear power plant
EDC is a Canadian export credit agency, as PEJ emphasizes, with many years of experience in financing energy projects around the world. EDC support is contingent upon successful detailed completion due diligence process and obtaining a positive credit decision – noted the Polish company.
“We are pleased to see great interest in our investment from the leading entities of the global financial market, with whom we are in constant contact. The EDC letter of intent is another confirmation of this and at the same time our next step towards implementing the strategy of obtaining financing for the entire project,” said Piotr, vice-president of PEJ. Piela.
Other entities interested in participating in the project
As PEJ recalled, the company had previously received letters of intent from the Americans Export-Import Bank (EXIM) and agencies International Development Finance Corporation (DFC) in total the equivalent of approximately PLN 75 billion.
Cooperation with export credit agencies is an important part of the strategy to provide financing for a nuclear power plant in Pomerania – it assumes continuation of talks, among others with entities from countries with an extensive supply chain in the nuclear sector to maximize and optimize the financing possibilities of this key investment for Poland, the company noted.
When will the first nuclear power plant be built in Poland?
100% owned by to the State Treasury PEJ is the investor and operator of a power plant in Pomerania. The company already has an environmental decision for the construction and operation of a nuclear power plant with a capacity of up to 3,750 MWe in the Lubiatowo-Kopalino location, and a basic decision issued by the Minister of Climate. PEJ also signed a contract with the consortium Westinghouse-Bechtel contract for the design of a power plant. In turn, the government sent an application to the European Commission for notification of state aid by recapitalizing the company with the amount of PLN 60 billion and in the form of a contract for difference.
The power plant is to be built using technology AP1000 Westinghouse and consist of three blocks. According to the latest declarations from the government, the first so-called nuclear concrete for the first unit is to be poured in 2028 and its construction completed in 2035 (PAP)
