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English Section

Poland’s wealthiest man to invest in country’s first nuclear reactor: report

22.10.2019 15:30
Polish company Synthos, owned by the country’s wealthiest man, Michał Sołowow, has signed an agreement to work with energy giant GE Hitachi on developing a small nuclear modular reactor in Poland, according to state news agency PAP.

With Poland’s coal-dominated electricity mix expected to become increasingly diversified over the next few years in response to the European Union's climate policy, more and more companies are looking at low-emission solutions.

In a statement released on Monday, GE Hitachi quoted Sołowow as saying that “utilizing small modular reactors to generate clean energy will improve our chances to move away from coal and have a positive impact on our industry and nation.”

The reactor is expected to be completed by 2028 at a cost of around USD 1 billion, the Puls Biznesu daily reported on Tuesday.

Small modular reactors are smaller than conventional reactors and are pre-manufactured. They produce a fraction of the power created by large plants.

Poland's energy minister said in May that the government plans to complete the country's first nuclear power plant by 2033.


Source: PAP/Puls Biznesu