Delay in the construction of Polish nuclear power plants predicted from the beginning

Luc Williams

Preparation of financing for the nuclear power plant project by PEJ

As he emphasized Chadam at the congress Europower-OZE Power, the company is at the stage of preparing financing. Regarding the debt part, talks have been held with consortiums of financial advisors who will help in obtaining financing on global markets, Chadam said, noting that no domestic bank will be able to finance a project of this scale.

He added that the company is counting on participation in American financing EXIM Bank and has preliminary arrangements with him, which still require further clarification.

Chadam reminded that all financing methods require both guarantees and state involvement, because the implementation time is so long and uncertain that no bank is able to lend money without a state guarantee.

Expected delays and challenges in the construction of a nuclear power plant

He emphasized that the project will definitely be delayed, because there is no case in which anyone in the world has not been late with the construction of a nuclear power plant. “World experience is not very optimistic,” he noted. But we believe that the delay and budget overrun will be less than elsewhere, Chadam added.

Development of the Polish Nuclear Energy Program and planned update

100% owned by to the State Treasury company PEJ is the investor and future operator of the planned first power plant within Polish Nuclear Energy Program (PPEJ). The current version of PPEJ from 2020 assumes the construction of two nuclear power plants with a total capacity of 6-9 GW. The previous government indicated a consortium as the partner for the first power plant Westinghouse-Bechtel. Construction in the Lubiatowo-Kopalino location would start in 2026, the first unit would be launched in 2033, and the next two units within the next three years. The Ministry of Climate announces the update of PPEJ in 2024 (PAP)


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