The Polish State Treasury has signed a letter of intent (LoI) with the 57.4% state-owned power utility PGE Polska Grupa Energetyczna to acquire 100% of PGE EJ 1, a special purpose vehicle (SPV) in charge of the development of Poland’s first nuclear power plant. PGE EJ 1 is owned by PGE (70%), ENEA, KGHM Polska Miedź and TAURON Polska Energia (10% each). The transaction is expected to close by end-2020.
The SPV currently focuses on the preparation of the Report on the environmental impact of the project (EIA Report) and the Location Report. Two locations are considered: Lubiatowo-Kopalino (Choczewo commune) and Żarnowiec (Krokowa and Gniewino communes), both in Pomerania Province (Northern Poland). Completion of work on the reports is scheduled for the second half of 2021.
Poland plans to develop a nuclear power project that could start commercial operations in 2033. The nuclear plant would have an installed capacity standing between 1 GW and 1.6 GW. At later stage, Poland plans to deploy 6-9 GW of nuclear capacity, requiring a total investment of PLN150bn (€34bn).
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