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Poland: Commercial banks interested in nuclear plant financing

Polskie Elektrownie Jadrowe, the investor in the project and the state-owned Polskie Elektrownie Jadrowe, has said that commercial banks are interested.

Piotr Piotr, the deputy CEO of PEJ, told a press conference that 30 banks from around the globe took part in a "sounding meeting" last week. They expressed an initial interest in the PEJ project.

Piela stated that "it's not the time to count your chickens until they hatch, but it appears we will have no trouble closing funding for this project."

EU APPROVAL OF STATE AID EXPECTED YEAR-END

The project is estimated to cost around 192 billion Zlotys (53 billion dollars) and Warsaw expects that commercial banks will cover approximately 20% of its financing.

PEJ is currently negotiating a contract for engineering, procurement, and construction with Westinghouse Electric. This company was chosen to build the project. Before that, the European Commission must approve state aid in the amount of 60 billion zlotys.

Warsaw hopes to have the EU's approval by the end this year, and begin construction on the first unit of the plant in 2028. It will be completed in 2036.

(source: Reuters)