Four state firms to continue joint nuclear power project
January 2, 2014
State-controlled power groups PGE, Enea and Tauron as well as copper group KGHM will continue works on the construction of a nuclear power plant in Poland despite failure to meet conditions precedent set in the cooperation agreement initialed in September, the companies said in separate market filings.
On September 23 the sides agreed that PGE would keep a 70% stake in its nuclear power unit PGE EJ1 and sell the remaining 30% stake to Enea, Tauron and KGHM with each of the firms taking a 10% stake.
PGE EJ1 is a special-purpose unit of PGE, which has the leading role in the process of building Poland's first nuclear power plant.
Poland's government should look into the nuclear power program within coming days, according to the PM's Chancellery press office.
Poland has charged PGE with the task of building Poland's first nuclear power plant.