Energy 7 September, 2023 7:30 am   

Poland has a financing model for its nuclear power plant. Talks in Brussels to start in September

Polska-elektrownia-jadrowa-na-Pomorzu-1 Polish Nuclear Power Plant in Pomerania. Visualization: Polish Nuclear Power Plants.

“We have prepared a certain model for financing nuclear projects in Poland,” said Anna Łukaszewska-Trzeciakowska, Government Plenipotentiary for  Strategic Energy Infrastructure, during the Economic Forum in Karpacz. “The talks will start in September in Brussels,” she added.

The XXXII Economic Forum in Karpacz is underway. The event brings together business and political representatives from around the world to discuss security, digitalization and politics.

Today, during one of the discussion panels, minister Łukaszewska-Trzeciakowska announced that talks on financing the first nuclear power plant in Poland will start in Brussels next week. The financing model requires a notification to the European Commission. When asked by whether the model was ready she replied it was. “We wouldn’t go empty-handed. We have a financing model,” she said.

The Minister revealed that she had a conversation with the US ambassador in Karpacz, and next week a delegation from Poland would go to the US again to discuss the model of cooperation within the framework of the project agreement between Poles and Americans. “Together with the government, we are holding talks on the design contract for the nuclear power plant from the United States. We want to negotiate the best possible conditions for Poland, ” said Mateusz Berger, president of Polish Nuclear Power Plants. In this context, he said the the design agreement was weeks or months away.

In order to start the construction, all issues have to be resolved, including financial ones. The financing model for the nuclear power plant should be fully defined before its construction begins, i.e. by 2026. Polish Nuclear Power Plants (PEJ) assume that the power plant construction project will be financed with 20-30 percent from its own funds, and the remaining 70-80 percent will be debt financing.

PEJ and the American Westinghouse and Bechtel want to build three AP1000 reactors, and the first one is to be located in Lubiatowo-Kopalino in Pomerania, and ready in 2033. In turn, the Korean KHNP, PGE and ZE PAK want to build two APR1400 by 2036 in Pątnów, in Greater Poland. There is a dispute over whether the Koreans can transfer the technology to which the Americans claim rights, but the media are already speculating about a possible settlement.

Wojciech Jakóbik / Jacek Perzyński