US EditionPoland to launch construction of first nuclear plant after EU approves €14bn in state aid
- On Tuesday, Prime Minister Donald Tusk said Poland will start work on its first nuclear power plant after gaining approval from the European Union at a cabinet meeting.
- Poland sought around 60 billion zloty in public aid to support the 192 billion zloty project, requesting a contract-for-difference to guarantee a price below 500 zloty per MWh for the 3.75 gigawatt plant.
- The European Commission added conditions, saying the plant won’t be 'overcompensated' and requires 70% of electricity sold via open power exchange while cutting the contract-for-difference term to 40 years.
- The plan calls for 70% of investment to come from debt, with the project company relying mainly on export-import institutions and about 30 billion zloty from commercial banks.
- Following the decision, PEJ can now finalise contracts with US builders, and shares of Polimex-Mostostal SA rose up to 8.6% on Tuesday, nearly 30% over three sessions.
26 Articles
26 Articles
Poland to launch construction of first nuclear plant after EU approves €14bn in state aid
Keep our news free from ads and paywalls by making a donation to support our work! Notes from Poland is run by a small editorial team and is published by an independent, non-profit foundation that is funded through donations from our readers. We cannot do what we do without your support. Construction of Poland’s first nuclear power plant is now set to begin after the European Commission approved Warsaw’s request to allocate 60 billion zloty (€14…
Germany is getting out, Poland is getting in: The country's first nuclear power plant is to be built near the Baltic Sea by 2033. Brussels is now allowing a subsidy from the Polish government.
Poland has received official approval from the European Commission for multibillion-dollar state aid for the construction of the country's first nuclear power plant in history.
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