Poland Moves Forward with $40 Billion Nuclear Power Plant Project

Poland is set to request approval from the European Commission to finance its first nuclear power plant. The plant, to be built by Westinghouse Electric, aims to reduce coal reliance and is estimated to cost $40 billion. The government plans to inject 60 billion zloty into the project.

This week, Poland will officially request European Commission approval for financing its first nuclear power plant, a senior energy security official announced on Wednesday. The approval ensures any state aid complies with EU fair competition rules.

Maciej Bando, deputy climate minister responsible for strategic energy infrastructure, stated at a Warsaw conference that the initiation of the notification process is imminent. The $40 billion Baltic Sea coast plant, constructed by Westinghouse Electric, marks a significant move to reduce Poland's coal dependence. Negotiations on the funding structure with U.S. partners are ongoing.

The government is drafting legislation to inject 60 billion zloty ($15.45 billion) into state-owned Polskie Elektrownie Jadrowe, which oversees the construction of the three reactors by 2035. Bando expects the EU will clear Poland's public aid request, including an electricity pricing contract scheme, by mid-next year.

(With inputs from agencies.)