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POWER: Poland Approves €14.4bn of Funding for 3.75GW Nuke

POWER
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Poland is accelerating its push to build its first 3.75GW nuclear power plant, securing government approval for a PLN60.2bn (€14.4bn) funding package, with completion scheduled for 2036, the government said, cited by Bloomberg.

  • The funding may be provided as bonds or cash, depending on the project’s timeline.
  • Government funding will cover 30% of the project, with the remaining financing expected to come from debt issued by the US Export-Import Bank and other lenders.
  • The EC is currently investigating the proposed state aid package, which includes equity injections, a CfD for power output, and state guarantees for PEJ’s debt. The EU has expressed preliminary concerns about compliance with state aid rules.
  • EU negotiations could take over a year, with a final agreement with Westinghouse Electric Co. and Bechtel Group Inc. planned afterwards.
  • Poland is also planning to build a second nuclear plant, which is anticipated to begin operations in 2039, with completion in 2043. PEJ has set a preliminary timeline to find a strategic partner by the end of 2026.
  • Talks have already begun for a third nuclear power plant.
  • Poland is eyeing a total nuclear capacity of around 6-9GW in the upcoming decades.
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Poland is accelerating its push to build its first 3.75GW nuclear power plant, securing government approval for a PLN60.2bn (€14.4bn) funding package, with completion scheduled for 2036, the government said, cited by Bloomberg.

  • The funding may be provided as bonds or cash, depending on the project’s timeline.
  • Government funding will cover 30% of the project, with the remaining financing expected to come from debt issued by the US Export-Import Bank and other lenders.
  • The EC is currently investigating the proposed state aid package, which includes equity injections, a CfD for power output, and state guarantees for PEJ’s debt. The EU has expressed preliminary concerns about compliance with state aid rules.
  • EU negotiations could take over a year, with a final agreement with Westinghouse Electric Co. and Bechtel Group Inc. planned afterwards.
  • Poland is also planning to build a second nuclear plant, which is anticipated to begin operations in 2039, with completion in 2043. PEJ has set a preliminary timeline to find a strategic partner by the end of 2026.
  • Talks have already begun for a third nuclear power plant.
  • Poland is eyeing a total nuclear capacity of around 6-9GW in the upcoming decades.