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Released November 22, 2022 | GALWAY, IRELAND
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Poland's government has chosen Westinghouse Electric Company (Cranberry Township, Pennsylvania) to build the country's first nuclear power plant.
The government is driving the program to build six to nine gigawatts (GW) of nuclear power, starting with three reactors at the Lubiatowo-Kopalino site in northern Poland. The company will use three Generation III+ AP1000 reactors with a combined output of 3,750 megawatts (MW), with the first reactor estimated to be commissioned in 2033. Poland expects to spend up to US$20 billion on the project. It represents a historic shift for Poland, which is Europe's largest coal-using nation and relies on coal-fired power for more than 70% of its electricity. It also supplies more than 95% of Europe's hard coal. The country is under increased pressure from the European Union (EU) to decarbonize its electricity mix as it has consistently failed to meet the EU's strict environmental requirements for greenhouse gas emissions reductions.
In its decision, the Council stated: "The need for permanent independence from energy supplies and energy carriers from Russia is associated with the need to accelerate the implementation of investments in the construction of the first nuclear power plant in Poland. This is an important step in building our country's energy security. The nuclear power plant construction programme is one of the key challenges in the Polish energy sector in the coming years. The implementation of the nuclear project will be carried out in cooperation with the government of the United States of America."
Polish Prime Minister Mateusz Morawiecki said: "After talks with U.S. Vice President Kamala Harris and U.S. Energy Secretary Jennifer Granholm, we confirm our nuclear energy project will use the reliable, safe technology of Westinghouse Electric Company."
Westinghouse beat rival nuclear bids from France's Électricité de France SA (EDF) (Paris, France) and Korea Hydro & Nuclear Power Company Limited (KHNP) . The AP1000 reactor technology is being used for two units being completed at the Vogtle site in the U.S. Four are in operation in China, two each at the Sanmen and Haiyang nuclear power plants. China is the only country with operational AP1000 reactors. Cost overruns and delays at the Vogtle project led to the company's bankruptcy in 2017. Last month, Industrial Info reported that leading uranium miner Cameco Corporation (NYSE:CCJ) (Saskatoon, Saskatchewan) and Brookfield Renewable Partners LP (NYSE:BEP) (Toronto, Ontario) have agreed to pay US$7.9 billion for the company, including debt, giving Westinghouse a US$4.5 billion equity value. Cameco will take a 49% stake, while Brookfield will have 51%. For additional information, see October 13, 2022, article - Cameco, Brookfield Renewable to Purchase Nuclear Equipment Provider Westinghouse.
Poland is also planning a second nuclear project but has not yet chosen a technology supplier. Anna Moskwa, Poland's environment minister, said: "We remain open to cooperation with European and global industry, also in the context of building a second nuclear power plant in our country." On the deal with Westinghouse, she added: "The decision to confirm the strategic partnership with the U.S. brings us closer to the implementation of this project...the implementation of this strategic project, and the proper provision of financing for the construction of large-scale nuclear power plants in Poland will enable the reduction of electricity prices while taking into account the interests of end users."
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
The government is driving the program to build six to nine gigawatts (GW) of nuclear power, starting with three reactors at the Lubiatowo-Kopalino site in northern Poland. The company will use three Generation III+ AP1000 reactors with a combined output of 3,750 megawatts (MW), with the first reactor estimated to be commissioned in 2033. Poland expects to spend up to US$20 billion on the project. It represents a historic shift for Poland, which is Europe's largest coal-using nation and relies on coal-fired power for more than 70% of its electricity. It also supplies more than 95% of Europe's hard coal. The country is under increased pressure from the European Union (EU) to decarbonize its electricity mix as it has consistently failed to meet the EU's strict environmental requirements for greenhouse gas emissions reductions.
In its decision, the Council stated: "The need for permanent independence from energy supplies and energy carriers from Russia is associated with the need to accelerate the implementation of investments in the construction of the first nuclear power plant in Poland. This is an important step in building our country's energy security. The nuclear power plant construction programme is one of the key challenges in the Polish energy sector in the coming years. The implementation of the nuclear project will be carried out in cooperation with the government of the United States of America."
Polish Prime Minister Mateusz Morawiecki said: "After talks with U.S. Vice President Kamala Harris and U.S. Energy Secretary Jennifer Granholm, we confirm our nuclear energy project will use the reliable, safe technology of Westinghouse Electric Company."
Westinghouse beat rival nuclear bids from France's Électricité de France SA (EDF) (Paris, France) and Korea Hydro & Nuclear Power Company Limited (KHNP) . The AP1000 reactor technology is being used for two units being completed at the Vogtle site in the U.S. Four are in operation in China, two each at the Sanmen and Haiyang nuclear power plants. China is the only country with operational AP1000 reactors. Cost overruns and delays at the Vogtle project led to the company's bankruptcy in 2017. Last month, Industrial Info reported that leading uranium miner Cameco Corporation (NYSE:CCJ) (Saskatoon, Saskatchewan) and Brookfield Renewable Partners LP (NYSE:BEP) (Toronto, Ontario) have agreed to pay US$7.9 billion for the company, including debt, giving Westinghouse a US$4.5 billion equity value. Cameco will take a 49% stake, while Brookfield will have 51%. For additional information, see October 13, 2022, article - Cameco, Brookfield Renewable to Purchase Nuclear Equipment Provider Westinghouse.
Poland is also planning a second nuclear project but has not yet chosen a technology supplier. Anna Moskwa, Poland's environment minister, said: "We remain open to cooperation with European and global industry, also in the context of building a second nuclear power plant in our country." On the deal with Westinghouse, she added: "The decision to confirm the strategic partnership with the U.S. brings us closer to the implementation of this project...the implementation of this strategic project, and the proper provision of financing for the construction of large-scale nuclear power plants in Poland will enable the reduction of electricity prices while taking into account the interests of end users."
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
