The Polish Nuclear Power Plants (PEJ) company has announced that it has secured letters of intent from two major French financial institutions, Bpifrance and Sfil, for potential support in constructing Poland's first nuclear power plant.
The backing, amounting to up to €3.5 billion (over PLN 15 billion), marks a significant milestone in the project's development.
Bpifrance Assurance Export, the French export credit agency, will provide guarantees for the financing, while Sfil, a public development bank, will refinance export credits from commercial banks, helping to fund the export of French goods and services.
PEJ Vice-President Piotr Piela said: “The letters of intent from two French institutions are yet another proof of the growing interest in the Polish nuclear investment.
“We are pleased to have acquired such experienced and reliable partners.
“We are consistently implementing our strategy of obtaining financing for the project and expanding the group of leading entities cooperating with us.”
The company added that its strategy includes close cooperation with foreign credit entities to ensure the financing of the project and strengthen relationships with suppliers from countries with strong nuclear supply chains.
Bpifrance Assurance Export, the French export credit agency, will provide guarantees for the financing, while Sfil, a public development bank, will refinance export credits from commercial banks, helping to fund the export of French goods and services.
PEJ Vice-President Piotr Piela said: “The letters of intent from two French institutions are yet another proof of the growing interest in the Polish nuclear investment.
“We are pleased to have acquired such experienced and reliable partners.
“We are consistently implementing our strategy of obtaining financing for the project and expanding the group of leading entities cooperating with us.”
The company added that its strategy includes close cooperation with foreign credit entities to ensure the financing of the project and strengthen relationships with suppliers from countries with strong nuclear supply chains.
PEJ has already secured over PLN 95 billion in financial commitments, based on letters of intent.
The company, which is fully owned by the State Treasury, is responsible for developing and operating the nuclear power plant in northwest Poland.
Three units will make up the plant, which will have a capacity of up to 3,750 MWe. The first unit is expected to have its "nuclear concrete" poured by 2028, with commercial operations scheduled to begin in 2036.
The Polish government has also applied to the European Commission for approval of public aid, including a PLN 60 billion recapitalization and a contract for difference.
The company, which is fully owned by the State Treasury, is responsible for developing and operating the nuclear power plant in northwest Poland.
Three units will make up the plant, which will have a capacity of up to 3,750 MWe. The first unit is expected to have its "nuclear concrete" poured by 2028, with commercial operations scheduled to begin in 2036.
The Polish government has also applied to the European Commission for approval of public aid, including a PLN 60 billion recapitalization and a contract for difference.
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