KGHM, in preparation for an investment involving the construction of nuclear energy sources, has signed an agreement with a manufacturer of reactors using SMR technology. By the concluded commitment, NuScale will support KGHM in the implementation of SMR technology replacing the existing coal-based energy sources. Clean energy would power the copper company's production facilities. The project is scheduled to be completed by the end of 2030.

“Climate change requires us to act decisively. We are already experiencing the resulting costs, including the financial ones, associated with increased energy prices, among other things. Building small nuclear reactors by 2030 is a concrete declaration and part of our energy transformation. We are national pioneers, as we anticipate that the first of our nuclear power plants will be operational as early as 2029,” said Marcin Chludziński, President of the Management Board of KGHM Polska Miedź S. A

“SMR technology will not only help us take care of the environment but also significantly reduce the cost of doing business. This is one of the company's recently announced development activities, we plan to commercially produce energy to support Poland's green transformation and reduce costs for ordinary households,” added Marcin Chludziński.

Following the signed commitment, KGHM Polska Miedź will not only be a recipient of the finished solution but will also participate in the development of this technology.

“NuScale is delighted to work with KGHM and PBE on the potential use of NuScale reactors in Poland,” said John Hopkins, President and CEO of NuScale Power.

The strategy pursued by KGHM assumes that, by 2030, half of the Company's demand for energy will be covered from its sources, including renewable sources. Polska Miedź is involved in projects involving the construction of photovoltaic power plants at its subsidiaries. It is also one of the signatories of the agreement for the development of offshore wind energy in Poland, and now energy from small nuclear reactors is being added to the energy mix.