Four firms sign up for potential share in Polish nuclear plant

11 September 2012

Four state-owned companies have signed a letter of intent to participate in the preparation, construction and operation of Poland's first nuclear plant.

Polska Grupa Energetyczna (PGE), Tauron Polska Energia, Enea, and copper giant KGHM Polska Miedz have agreed to prepare a draft agreement to acquire shares in PGE EJ 1, a special purpose company responsible for the preparation, construction and operation of the for the first Polish nuclear power project.

“PGE is considering allowing its business partners to take part in this project through their capital participation in the special purpose company established by PGE with a view to the execution of the nuclear project,” the utility said in a statement.

The future agreement, which could be signed in 2012, regulates the parties’ project-related rights and obligations. It assumes that PGE will place the leading role in the investment project, preparation and execution process.

PGE has already started preparatory work on the project, and the plant is expected to be online by 2025.


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