“The cost of the nuclear power plant to be built in cooperation with the Koreans could reach around PLN 100 billion”, said Minister of State Assets Jacek Sasin. An approximate cost estimate of the project is expected to be presented within a few months, the entrance to the construction site may take place in about four years.

“We are talking about a very preliminary estimate at the moment, which relates to investments of this kind already carried out in the world by the Koreans, so it is definitely too early to say how much it will cost in Poland. I think that within a few months we will be able to show such a rough cost estimate”, announced Minister Sasin.

Polish Energy Group (PGE) and Zespół Elektrowni Pątnów Adamów Konin (ZE PAK) have reached a preliminary agreement on the establishment of a joint special purpose vehicle for a nuclear power plant project based on Korean APR1400 technology. The companies hope to conclude a final investment agreement with Korea Hydro & Nuclear Power Co. (KHNP) within a few months.

The planned nuclear power plant is a private venture. The Polish government wants the Polish side to have a majority stake (at least 51 %). As Minister Sasin announces, negotiations are underway with the Korean side to make this contribution as high as possible. Both the Polish government and Polish companies have assurances from the Korean side that Korean financial institutions are also ready to launch debt financing.

Asked when the construction work would start, the head of the Ministry of State Assets said that it was planned to accelerate the investment process. On the other hand, the entry into the construction site itself would take place in about four years.

In October 2022, PGE and ZE PAK, together with KHNP, signed a letter of intent to cooperate on a strategic Polish-Korean project to build a nuclear power plant in Pątnów. The power plant is to be built as a business venture.

Arkadiusz Słomczyński