PGE said the two companies will each have a 50% share in PGE PAK Energia Jadrowa (PGE PAK Nuclear Energy), which will “guarantee the interests of the Polish state treasury”, a majority stakeholder in the PGE group.
In October 2022, ZE PAK and PGE signed a letter of intent with Korea Hydro and Nuclear Power (KHNP) for eventual deployment of the company’s APR-1400 PWR technology at the Patnow coal-fired generation site, owned by ZE PAK.
Reports said the project was being developed as a private initiative and would not be run by the government under its central 2020 nuclear energy programme, although PGE is majority-owned by the Polish state.
PGE and ZE PAK announced their intention to form a joint company early March 2023. Regulatory approval for the move was granted on 29 March 2023.
The new company will be responsible of all aspects of the project to build at least two South Korean APR-1400 pressurised water reactor units at Patnow, with a combined capacity of about 2,800 MW. These aspects will include an initial feasibility study, site surveys, an environmental impact assessment, licensing procedures and securing of financing.
In January, a Korea Hydro and Nuclear Power Company (KHNP) official said it would be feasible to deploy up to four of KHNP’s APR-1400s at Patnow.
The site has two coal-fired power plants in commercial operation with a combined output of about 1,100 MW, which makes it one of Poland’s largest energy facilities.
Owner ZE PAK has been looking at nuclear energy as an option to decarbonise its generation portfolio and had earlier planned to deploy small modular reactors in partnership with Synthos Green Energy at Patnow.
However, after the October 2022 announcement on the proposed APR-1400 project with PGE, ZE PAK announced it was dropping its SMR plans.
Poland’s deputy prime minister and minister of state assets Jacek Sasin said at the signing of the joint venture agreement that nuclear energy is needed for the country’s energy independence and the nuclear energy programme will guarantee cheap and clean electricity and help develop the Polish economy.
