Poland begins search for partners in $19.5bn nuclear power project

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Polish utility PGE is seeking technology and finance partners to contribute to building Poland’s first nuclear power plant.

The investment is expected to be around $19.5bn, as Poland seeks to increase energy efficiency and cut carbon emissions in its energy sector.

“We now have the period of searching for a partner to provide the technology and a partner to participate financially,” PGE’s chief executive and Poland’s former energy market regulator Marek Woszczyk told a news conference.
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State-controlled PGE, the project’s coordinator, has until end-2016 to pick a site and find a technological partner.

The government’s strategy is to build a 3 GW nuclear power plant, with the first block to be finished by the end of 2024 and the whole project to be finalized by 2030.

Warsaw is keen to avoid further dependency on Russia for energy and PGE said it wanted to control the special investment company set up to run the nuclear plant’s construction. Possible partners include Polish state-controlled Tauron, Enea, and KGHM, but no deal has yet been signed.

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