Polish first nuclear power plant's financing captures interest of 30 banks, says PEJ's CEO
Following initial talks on financing the construction of Poland's first nuclear power plant, 30 commercial banks from around the world have expressed interest in continuing the discussions, the deputy CEO of Poland's 100-percent state-owned nuclear power SPV PEJ Piotr Piela announced during Energy Days in Katowice.
"We are conducting intensive dialogue with export credit agencies on the one hand, and last week we began initial discussions with commercial banks regarding the financing of our project," deputy CEO Piela said.
Obtaining 20 percent of commercial financing is the final stage of financing the construction of Poland's first nuclear power plant.
"The first sounding shows that 30 banks from around the world, after listening carefully to our project and asking initial questions, have expressed interest in further participation (...). It seems that, as a project company, we should have no problem securing financing for this project," PEJ's deputy CEO said.
Referring to the earlier stages, he emphasised that the expected approval of the support mechanism for the project by the European Commission by the end of the year is the first factor triggering the launch of the remaining sources of financing.
"With the EC's approval of the support mechanism, the funds allocated by law for our project will be released - the first PLN 60 billion, which constitutes the so-called equity, will be available to us [at that time - PAP ed.]," Piela said.
"Once it is available, we, as the management board, will be entitled to finalise our EPC agreement with the general contractor and move on to the next stage of finalising agreements with the export credit agencies of those countries whose components will be supplied to our project," he added.
On September 26, PEJ applied to the governor of Pomeranian region for a permit to carry out the second stage of preparatory work. The first stage of preparatory work is to be launched in the autumn.
PEJ assumes that in 2026, it will apply for a construction permit to the nuclear regulatory authority - the National Atomic Energy Agency (PAA). The company hopes to obtain the permit in time to pour concrete for the first of three reactors in 2028.
This schedule provides, among other things, for the first unit to start operating in 2036.
jz/ ao/
