PGE PAK Energia Jądrowa S.A. is the name of the joint company between PGE Polska Grupa Energetyczna and ZE PAK, which will participate in the construction of a nuclear power plant in Konin/Pątnów in the Wielkopolska region. The company is being established in just five months after the letter of intent between PGE, ZE PAK and Korea’s KHNP was signed on 31.10.2022 in Seoul. PGE and ZE PAK will each hold a 50 per cent stake in PGE PAK Energia Jądrowa, thus preserving and safeguarding the State Treasury’s interest in the project.
PGE and ZE PAK signed the articles of association of PGE PAK Energia Jądrowa S.A. on 13 April 2023. The company’s objective and task will be to participate in the planned construction of a nuclear power plant in Konin/Pątnów in Greater Poland. The power plant is planned as a joint venture between PGE PAK Energia Jądrowa S.A. and the Korean KHNP. The investment will be based on the safe and proven APR 1400 reactor technology.
On the basis of preliminary analyses carried out so far, it has been estimated that the foundation of at least 2 APR1400 reactors with a total capacity of 2800 MW is prospective. Two reactors could supply Polish homes and businesses with about 22 TWh of energy, or about 12 per cent of today’s energy consumption in Poland. The commissioning of the first unit of the power plant is possible as early as 2035.
PGE PAK Energia Jądrowa is tasked with preparing three elements of the investment: a feasibility study, site and location studies and an environmental impact assessment for the planned construction of the nuclear power plant.
The timetable for investment preparation is proceeding at record pace:
- 31/10/2022 – signing of a letter of intent by PGE, PAK and Korean KHNP signing of a cooperation agreement between representatives of the Polish and Korean governments: Jacek Sasin, Deputy Prime Minister and Minister of State Assets of the Polish government, and Lee Chang-Yang, Minister of Trade, Industry and Energy of Korea
- 31/12/2022 – preliminary feasibility study of a potential nuclear power plant in Konin/Pątnów completed
- 07/03/2023 – signing by PGE and ZE PAK of a preliminary agreement on the establishment of a joint special purpose vehicle to carry out a nuclear power plant construction project in the Konin region
- 08/03/2023 – application of PGE and ZE PAK to the OCCP concerning the establishment of a joint special-purpose vehicle
- 29/03/2023 – approval of the OCCP for the establishment of a joint venture between PGE and ZE PAK to carry out activities in the area of nuclear energy
- 13/04/2023 – PGE and ZE PAK joint special purpose vehicle is established: PGE PAK Energia Jądrowa S.A.
PGE PAK Energia Jądrowa S.A., as envisaged, will represent the Polish side in all stages of the project, including the execution of location and environmental studies, the acquisition of financing and the preparation of a detailed investment schedule together with the Korean side, as well as in the subsequent stages of obtaining permits and administrative decisions.
“Energy independence is the basis of our security. This is why the Polish government is developing the Polish Nuclear Power Programme, which will guarantee cheap and clean energy from the atom. It will also provide an important impetus for the further development of the Polish economy. The power plant that Polish companies PGE and ZE PAK are planning to build together with a Korean partner will complement this programme. It is with satisfaction that I observe the pace of work on the realisation of the project, which, apart from achieving business objectives, will strengthen relations and cooperation between Poland and South Korea,”
said Jacek Sasin, Deputy Prime Minister, Minister of State Assets.
“This is an important day for Poland, the Polish energy sector, the people of the region and for me personally. We are acting very dynamically, and the establishment of PGE PAK Nuclear Energy is the best proof of that. We need clean and cheap zero-emission energy and we are ready to realise the construction of a nuclear power plant together with our Korean partners,”
said Zygmunt Solorz, the main shareholder and Chairman of the Supervisory Board of ZE PAK.
“In less than six months since signing the letter of intent, we have carried out all the work planned for this period, which confirmed the previously adopted assumptions regarding the construction of a nuclear power plant in the Konin region. The culmination of these activities is the establishment of the company PGE PAK Energia Jądrowa S.A. As of today, the company representing PGE and ZE PAK will automatically take over all the tasks related to the preparation of this investment and ongoing cooperation with our Korean partners from KHNP,”
said Wojciech Dąbrowski, President of the Management Board of PGE Polska Grupa Energetyczna.
“Nuclear energy has a chance to become the most important source of safe and cheap zero-emission energy for Poland, next to renewable energy sources, guaranteeing our energy security, strengthening the competitiveness of the economy and taking care of the environment,”
added Wojciech Dąbrowski.
“I am convinced that with such a pace of work and support from the state authorities, as well as local authorities, institutions, offices and bodies responsible for issuing relevant approvals, permits and decisions, the commissioning of the first unit is possible already in the middle of the next decade. The construction of the nuclear power plant will be a clasp of the energy transformation of Eastern Wielkopolska, carried out under the conditions of a just transition, taking into account the interests of the local communities and the employees of the ZE PAK power and coal complex,”
said Piotr Woźny, President of the Management Board of ZE PAK.
The Supervisory Board of PGE PAK Energia Jądrowa S.A. will consist of 12 members - 6 from each shareholder's side. The Management Board will consist of 4 members - 2 from each side. The Chairman of the Supervisory Board will be Zygmunt Solorz, the President of the Management Board will be Jakub Rybicki. The registered office of the Company is Konin. The Supervisory Board: 1. Zygmunt Solorz - Chairman of the Supervisory Board 2. Wojciech Dąbrowski - Deputy Chairman of the Supervisory Board 3. Tobias Solorz - Member of the Supervisory Board 4. Piotr Żak - Member of the Supervisory Board 5. Justyna Kulka - Member of the Supervisory Board 6. Tomasz Szeląg - Member of the Supervisory Board 7. Jarosław Grzesiak - Member of the Supervisory Board 8. Piotr Skrzydelski - Member of the Supervisory Board 9. Damian Bronner - Member of the Supervisory Board 10. Tomasz Trautsolt - Member of the Supervisory Board 11. Paweł Stępień - Member of the Supervisory Board 12. Radosław Kwaśnicki - Member of the Supervisory Board The Management Board: 1. Jakub Rybicki - President of the Management Board 2. Maciej Stec - Vice President of the Management Board 3. Tomasz Nowacki - Member of the Management Board 4. Maciej Koński - Member of the Management Board
