Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Poland gives details on $20B nuclear power bid

Poland gives details on $20B nuclear power bid

Westinghouse of the US gets the nod to build the country’s first nuclear power plant.
U.S. nuclear power technology provider Westinghouse will build Poland’s first reactor by 2033, Prime Minister Mateusz Morawiecki said Wednesday.

“We assume the overall cost at around $20 billion,” he told reporters, adding: “The upfront capital investment is big but once a nuclear power plant is operational, the cost of generating electricity is relatively low.”

Poland is looking at nuclear power to reduce its dependence on coal, which still accounts for around 70 percent of the country’s energy mix. That also dovetails with an effort to end reliance on Russian coal, oil and gas.

“The need to become permanently independent of energy supplies and energy carriers from Russia is linked to the need to accelerate investment in the construction of Poland's first nuclear power plant,” the government said in a decree approved Wednesday.

Poland is one of the few countries in Central Europe with no nuclear power sector; an effort to build a power plant in the 1980s was thwarted by the 1986 Chernobyl disaster and by Poland’s financial woes.

Warsaw’s nuclear plans are ambitious. The official strategy assumes building six reactors in two locations by the mid-2040s but Morawiecki said a third location is not out of the question.

On top of the government program with Westinghouse, there is a parallel business-led effort with South Korea. Poland’s utilities ZE PAK and PGE signed a letter of intent Monday with Korean company KHNP to analyze a power plant that would be built in central Poland.

The Westinghouse power plant will be built in Choczewo on Poland’s Baltic Sea cost, around 80 kilometers northwest of Gdańsk.

The exact location will be pinpointed once the project secures an environmental permit, Climate and Environment Minister Anna Moskwa told the same briefing.

The goal is to begin construction by 2026 and to start operations in 2033.

Although he sketched out the possible scale of the investment, Morawiecki didn’t provide more details on the financing of what will be one of Poland’s most ambitious infrastructure projects.

“We have financing secured for the current early stages of the project. The bulk of the money will be needed later on and there are several ways of securing it,” he said.

If all of the plants being talked about get built, nuclear power could supply about supply 30 percent of Poland’s energy mix, Moskwa said.

“A strategic partnership with the U.S. to build the first nuclear power plant is a civilizational leap for us to strengthen energy security,” she tweeted.

The three bidders for nuclear projects in Poland were Westinghouse, KHNP and France’s EDF.

Poland also plans to develop offshore wind power in the Baltic Sea as well as onshore wind, solar power and biomass — potentially cutting coal’s share in the country’s energy mix to an estimated 11 percent to 28 percent, according to the country’s energy transition strategy.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Hungary Ranked Among the World’s Safest Travel Destinations for 2025
G7 Leaders Fail to Reach Consensus on Key Global Issues
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Shock Within Iran’s Leadership: Khamenei’s Failed Plan to Launch 1,000 Missiles Against Israel
Wreck of $17 Billion San José Galleon Identified Off Colombia After 300 Years
Man Convicted of Fraud After Booking Over 120 Free Flights Posing as Flight Attendant
Iran Launches Extensive Missile Attack on Israel Following Israeli Strikes on Nuclear Sites
Beata Thunberg Rebrands as Beata Ernman Amidst Sister's Activism Controversy
Hungarian Parliament Approves Citizenship Suspension Law
Prime Minister Orbán Criticizes EU's Ukraine Accession Plans
Hungarian Delicacies Introduced to Japanese Market
Hungary's Industrial Output Rises Amid Battery Sector Slump
President Sulyok Celebrates 15 Years of Hungarian Unity Efforts
Hungary's Szeleczki Shines at World Judo Championships
Visegrád Construction Trends Diverge as Hungary Lags
Hungary Hosts National Quantum Technology Workshop
Hungarian Animation Featured at Annecy Festival
Israel Issues Ultimatum to Iran Over Potential Retaliation and Nuclear Facilities
UK and EU Reach New Economic Agreement
Coinbase CEO Warns Bitcoin Could Supplant US Dollar Amid Mounting National Debt
Trump to Iran: Make a Deal — Sign or Die
Operation "Like a Lion": Israel Strikes Iran in Unprecedented Offensive
Israel Launches 'Operation Rising Lion' Targeting Iranian Nuclear and Military Sites
UK and EU Reach Agreement on Gibraltar's Schengen Integration
Israeli Finance Minister Imposes Banking Penalties on Palestinians
U.S. Inflation Rises to 2.4% in May Amid Trade Tensions
Trump's Policies Prompt Decline in Chinese Student Enrollment in U.S.
Global Oceans Near Record Temperatures as CO₂ Levels Climb
Trump Announces U.S.-China Trade Deal Covering Rare Earths
Smuggled U.S. Fuel Funds Mexican Cartels Amid Crackdown
Austrian School Shooting Leaves Nine Dead in Graz
Bezos's Lavish Venice Wedding Sparks Local Protests
Europe Prepares for Historic Lunar Rover Landing
Italian Parents Seek Therapy Amid Lengthy School Holidays
British Fishing Vessel Seized by France Fined €30,000
Dutch Government Collapses Amid Migration Policy Dispute
UK Commits to 3.5% GDP Defence Spending Under NATO Pressure
Germany Moves to Expedite Migrant Deportations
US Urges UK to Raise Defence Spending to 5% of GDP
Israeli Forces Intercept Gaza-Bound Aid Vessel Carrying Greta Thunberg
IMF Warns of Severe Global Trade War Impacts on Emerging Markets
Low Turnout Jeopardizes Italy's Citizenship Reform Referendum
Transatlantic Interest Rate Divergence Widens as Trump Pressures Powell
EU Lawmaker Calls for Broader Exemptions in Supply Chain Legislation
France's Defense Spending Plans Threatened by High National Debt
European Small-Cap Stocks Outperform U.S. Rivals Amid Growth Revival
Switzerland Proposes $26 Billion Capital Increase for UBS
×