Energy giants sign nuclear power deal


Based on the deal signed on 3 September, utilities Enea and Tauron, and metallurgy group KGHM are buying 10 percent each in PGE's unit PGE EJ 1, responsible for the nuclear energy program.

The transaction is yet to be approved by Poland's competition watchdog UOKiK.

The companies have agreed to co-finance all activities related to the project, proportionally to the stakes they hold. According to PGE's press statement, the total value of the upcoming stage will amount to about 1 billion zloty (around 238 million euro).

“It's worth cooperating with strategic partners from the very beginning,” PGE's chief executive Marek Woszczyk told Polish Radio, “and it's worth sharing the expenses. This is a very capital-consuming project.”

The next steps leading towards the construction of the 3,000 MW power plant include choosing a strategic partner for the construction process, a supplier of technology and an engineering, procurement and construction (EPC) contractor, PGE said.

The first tender is scheduled to be announced early next year.

In 2017, the partners will decide on their further engagement in the nuclear power plant construction project, the statement also said.

Poland's government expects the construction of the country's first nuclear plant to start in 2019. The unit should then be completed by 2024. The location for the facility has not been picked yet.