On Monday, US Ambassador Mark Brzezinski announced that two US government institutions have pledged $4 billion to help fund the implementation of small modular reactors (SMRs) in Poland. This financial support is intended to be used towards the development of SMRs, which is a new form of nuclear energy technology. Brzezinski stated that this investment is part of the US commitment to supporting Poland’s energy security.
The US Export-Import Bank (EXIM) and the US International Development Finance Corporation (DFC) have announced a combined $4 billion in financing for the construction of the first two power plants using the BWRX-300 reactor designed by GE Hitachi Nuclear Energy (GEH). The plants will be developed by Orlen Synthos Green Energy (OSGE).
EXIM will provide $3 billion in financing while the DFC will provide $1 billion. The announcement marks the first time that the US government has provided significant financing for a nuclear power project outside the United States.
Letters of intent were signed at the US Embassy in Warsaw, the embassy said in a tweet on Monday.
“Poland needs new energy solutions to protect itself from Russian influence, to meet climate commitments and drive economic development. GE Hitachi is a trusted partner that can provide such solutions,”
said Brzezinski.
GE and Hitachi have developed the BWRX-300, a small modular reactor (SMR) that produces 300 megawatts of electricity. This boiling water reactor is the result of a joint venture between the American company GE and the Japanese firm Hitachi.
Polish chemical firm Synthos and oil and gas company PKN Orlen have joined forces to create a special-purpose vehicle, OSGE. This new entity is expected to facilitate cooperation between the two companies in the development of innovative projects.
Later on Monday, Orlen and Synthos named the seven possible locations for the reactors.
PKN Orlen’s CEO, Daniel Obajtek, announced the company’s plans to expand its operations to six new locations across Poland. These include the Ostroleka region in the northeast, Wloclawek in the central north, Stawy Manowskie, Dabrowa Gornicza and Nowa Huta in the south, as well as the Tarnobrzeg-Stalowa Wola special economic zone in the southeast. Furthermore, the company will also be extending their reach to the capital city of Warsaw.
The selected locations will undergo examination, which will last at least two years, Obajtek said, adding that local communities will also be consulted before a decision is made.