PLN 4 billion for a Polish nuclear power plant
Polish Nuclear Power Plants (PEJ) announced that the American development financing institution DFC US International Development Finance Corporation is considering supporting the project to build the first Polish nuclear power plant with the equivalent of over PLN 4 billion. “The interest was declared in the letter of intent signed on November 12 this year by DFC,” the company noted.
“For us, the involvement of this important entity is not only financial. This is a sign of the American administration’s interest in our project” – said Wojciech Rosiński, director of the PEJ financial department, quoted in the announcement. He added that the signed letter of intent reflects the effects of many months of talks conducted by PEJ with this institution, as well as other institutions from the American market, interested in the Polish and global energy transformation.
“DFC is committed to increasing regional energy securityin Central and Eastern Europe. The letter of intent is a step towards reducing regional dependence on Russian energy exports, and at the same time expresses the desire to strengthen economic growth and create jobs,” added Agnes Dasewicz, DFC’s head of investment.
Other funding entities
PEJ reminded that the letter of intent from DFC is another document regarding the financing of the Lubiatowo-Kopalino nuclear power plant project. A similar declaration, for the equivalent of approximately PLN 70 billion, was previously submitted by the American government Export-Import Bank (Exim Bank), as a result of many years of talks with an American company Westinghousein which PEJ and Bechtel took part since last year.
“The US is fully committed to supporting Poland’s energy transformation”
The US Embassy on Platform X noted that Poland and the United States have taken another significant step towards building the first Polish nuclear power plant. The American Corporation for International Development Finance has signed a letter of intent to grant a loan of USD 1 billion. Polish Nuclear Power Plants. These funds will support the implementation of the nuclear project Westinghouse and Bechtel in Lubiatów-Kopalina. “SThe United States is proud to be a trusted partner of Poland on the path to clean, safe and affordable nuclear energy“- the embassy emphasized in the entry.
“I am pleased that this key project is gaining momentum. Poland’s first nuclear power plant is a symbol of our shared commitment to a clean and safe energy future. This is an important day for Polish-American relations! The United States is fully committed to supporting Poland’s energy transformation, in including through the involvement of American financial institutions,” assured Ambassador Mark Brzeziński on the X platform.
Westinghouse and Bechtel are part of the American consortium implementing the PEJ investment in Pomerania. Both DFC and Exim Bank are among the leading financial institutions in the world.
DFC works with the private sector to finance solutions to the most serious challenges facing the developing world today. It invests in sectors such as energy, healthcare, critical infrastructure and technology.
Construction of a Polish nuclear power plant
Polish Nuclear Power Plants is a company responsible for, among others, for preparing the investment process and acting as an investor in the project of building nuclear power plants with a total installed capacity of approx. 6 to approx. 9 GWe based on large-scale pressurized water nuclear reactors of generation III(+) and their possible future operation. The company also supports the government administration in activities aimed at implementing the Polish Nuclear Energy Program and implementing the agreement between the Government of the Republic of Poland and the US Government regarding cooperation in the development of the nuclear energy program used for civil purposes and the civil nuclear industry in the Republic of Poland.
In August this year The government plenipotentiary for strategic energy infrastructure presented the assumptions of the act, providing approximately PLN 60 billion of public support for the Polskie Elektrownie Jądrowe company. According to the assumptions, support will be provided in the form of an increase in the share capital of PEJ through a cash contribution. It is also possible to increase the share capital by making a non-cash contribution – Treasury securities. It will be possible to grant public support to PEJ only after the European Commission issues consent to state aid. It was then announced that the government planned to adopt this project in the fourth quarter of this year. September 2 this year The draft Act amending the Act on the preparation and implementation of investments in the field of nuclear energy facilities and accompanying investments and the Act on payments from profits by sole shareholder companies of the State Treasury was published on the website of the Government Legislation Center.
The first nuclear power plant in Poland it is to generate up to 3,750 MWe and will be built in the communes of Choczewo or Gniewino and Krokowa. As explained by the Ministry of Infrastructure and Environment, where the project was created, the PEJ company needs financing, as its lack may result in negative consequences for the implementation of the project.
According to the latest declarations of the government plenipotentiary for strategic energy infrastructure, the outflow of the so-called The first nuclear concrete for the first reactor is to be laid in 2028, and the government has declarations from the contractor that from that moment it will need seven years to complete the construction. (PAP)
