We use cookies to make sure our website better meets your expectations.
You can adjust your web browser's settings to stop accepting cookies. For further information, read our cookie policy.
IN Warsaw
Exchange Rates
Warsaw Stock Exchange - Indices
The Warsaw Voice » Business » January 30, 2014
Powered by ReadSpeaker
Listen to this page using ReadSpeaker
Polish utility PGE to seek partners for country’s first nuclear plant
January 30, 2014   
Article's tools:

Deputy PM and Economy Minister Janusz Piechocinski, PGE CEO Marek Woszczyk and PGE EJ 1 CEO Aleksander Grad
PGE EJ1, a unit set up to build and operate Poland's first nuclear power plant is looking for long-term technology and financial partners for this PLN 40-60 billion project, after the Polish government adopted a national program for nuclear power, PGE CEO Marek Woszczyk said at a press conference on Wednesday.

Poland’s Ministry of Economy said Tuesday said it will go ahead with its plans to build two nuclear power plants in the country, after preparations slowed down due to the global financial crisis and the Fukushima disaster in Japan.

The plan involves the construction of two 3,000-megawatt nuclear power plants in Poland together with building of a regulatory and organizational framework. The construction of the first power plant is expected to be completed in 2019 and go online in 2024. The second power plant is planned for 2035.

The Economy Ministry said that the nuclear power program was designed add nuclear energy to Poland's energy mix and stimulate economic, social and regional development.

PGE has until end-2016 to pick a site and find a technological partner.
"We now have the period of searching for a partner to provide the technology and a partner to participate financially," Woszczyk said.

As for technology PGE is looking at British solutions. “It is worth analyzing whether to use them in Poland. But I want to underline that no decisions have been made so far and all options are open," Woszczyk said.

The nuclear project has had a series of setbacks. PGE has voiced concerns over its financing.

PGE wants to keep a 70% stake in its nuclear power unit PGE EJ 1 until it decides about the final shape of financing for the project and will later look for both sector and financial partners, Woszczyk also said.

"It is unquestionable that this project, despite being extremely capital consuming, has to be economically viable long-term," Woszczyk said. "I don't want to determine what the final model of financing will look like. We will decide about it in the course of the integrated procedure. Until then we want to keep a 70% stake in PGE EJ 1, later we want to get a partner or partners, both sector and financial ones. Then we will talk about financing."

PGE EJ1 CEO Aleksander Grad said the company will select the N-plant contract engineer by February 17.
© The Warsaw Voice 2010-2018
E-mail Marketing Powered by SARE