Biznes Fakty
Nuclear power plant in Poland. Huge amount of money for investment. Sejm decision
On Thursday, the Sejm approved legislation regarding the recapitalization of the Polish Nuclear Power Plants (PEJ) company, allocating up to PLN 60 billion from the budget to contribute to the establishment of the nation’s first nuclear power facility. The recapitalization is contingent upon receiving approval from Brussels for public assistance.
A total of 430 MPs supported the bill, one opposed it, and there were no abstentions. The proposed amendments concerning the preparation and execution of investments in nuclear facilities, along with related investments and regulations on profit distributions by single-member companies of the State Treasury, will now be reviewed by the Senate.
Funding for a nuclear power plant
The legislation stipulates that the Polish Nuclear Power Plants (PEJ), a company entirely owned by the State Treasury, is to receive public funding for both the preparation and execution of the investment—specifically, the construction of the first nuclear power plant—with the budgetary expenditure capped at PLN 60.2 billion.
Support will be offered via an increase in PEJ’s share capital through a monetary contribution. It is also possible to augment the share capital through a non-cash contribution in the form of treasury securities.
The assistance is intended to be allocated between 2025 and 2030. The Minister of Finance will make the decision regarding recapitalization upon the request of the government’s representative for strategic energy infrastructure.
The Act specifies that the authorized representative cannot petition the Minister of Finance for PEJ’s recapitalization prior to securing the European Commission’s approval for public aid in this manner. In December 2024, the Commission initiated a formal notification process concerning public assistance for the nuclear facility, with recapitalization being one of the elements of this support.
Polish Nuclear Power Program
The current iteration of the Polish Nuclear Power Program (PPEJ) from 2020 envisions the construction of two nuclear power plants with a combined capacity of 6-9 GW, with the Polish Nuclear Power Plants, a fully state-owned entity, acting as the investor and operator. The prior government identified the Westinghouse-Bechtel consortium as the partner for the initial plant, which is planned to be situated in Lubiatowo-Kopalino in Pomerania.
The government anticipates that 30% of the construction expenses will be financed from the investor’s own assets, which will include the capital injection mandated by law, while 70% will be sourced from loans taken from financial institutions.
According to the most recent statements from the government’s representative for strategic energy infrastructure, the initial nuclear concrete for the first reactor is expected to be poured in 2028, with the commencement of commercial operations for the first unit projected for 2036.
