PLN 60.2 billion for nuclear power plant investment

The Ministry of Climate and Environment wants to provide funding for the Polish Nuclear Power Plant of PLN 60.2 billion in 2025-2030, according to a draft bill published on Monday on the Government Legislation Centre.

As indicated in the justification of the draft, Poland’s first nuclear power plant is to generate up to 3750 MWe and will be built in the area of the municipalities of Choczewo or Gniewino and Krokowa. As explained by the Ministry of the Environment and Ecology, where the project was developed, the PEJ company needs the assurance of financing, as the lack of it may result in negative consequences for the project implementation.

It was pointed out that the State Treasury is providing 30 per cent of the capital, with the rest to be financed from external capital (e.g. Export-Import Bank of the United States), and it was assumed that external financing would be raised after an own contribution. Thus, the project envisages PLN 60.2 billion in PEJ recapitalisation in the years 2025-2030. The climate ministry indicated in its justification that there is currently no legislation in place to support the company at an appropriate level, and such possibilities are to be introduced by the project.

In addition, Polskie Elektrownie Jądrowe in a communiqué published on Monday boasted about the accelerated work on the bill. ‘We have recently accelerated work on the nuclear project, among other things, the government will secure a total of around PLN 60 billion in 2025-30 to support this strategic project,’ – assessed Government Plenipotentiary for Strategic Energy Infrastructure Maciej bando

It was conveyed that the company had applied to the President of the State Atomic Energy Agency on the methodology for the classification of safety systems. It was explained that this is an assessment of the solutions for the systems and structural elements of the AP-1000 reactor (three such reactors will be used in the power plant). It was noted that the PAA president had assessed the compliance of the methodology proposed by PEE with the requirements imposed by law. (PAP)

The current version of the 2020 Polish Nuclear Power Programme (PPEJ) envisages the construction of two nuclear power plants with a total capacity of 6-9 GW, with the 100 per cent state-owned company Polskie Elektrownie Jądrowe as investor and operator. The previous government identified the Westinghouse-Bechtel consortium as the partner for the first power plant. It is to be built at the Lubiatowo-Kopalino location in Pomerania. The Ministry of Climate announced an update to the NPPJ later this year.

According to recent declarations by the Government Plenipotentiary for Strategic Energy Infrastructure, the pouring of the so-called first nuclear concrete for the first reactor is expected to take place in 2028, and the government has declarations from the contractor that it needs seven years from that point to complete the construction process.

Source: PortalMorski.pl