Poland commits $1.2bn for maiden nuclear power plant
Poland has announced an investment of 4.6bn zloty ($1.2bn) from its 2025 budget to initiate the development of the nation’s inaugural nuclear power plant (NPP).
This move is a strategic effort to diversify the country’s energy mix and reduce electricity costs, Poland finance minister Andrzej Domanski said in Olsztyn, northeast Poland.
He emphasised on the necessity of combining renewable energy sources with nuclear generation to achieve more affordable electricity prices.
Domanski disclosed the preliminary funding details for the project, which is poised to be the largest investment in the country’s history, just days ahead of a cabinet meeting to discuss the upcoming year’s budget proposal.
The government had earlier projected that around 60bn zloty would be needed for the 2025-2030 phase of the nuclear project, before additional funding from the US, which is providing the technology, becomes available.
The plant, which is expected to be situated near the Baltic Sea, is anticipated to commence operations in roughly ten years.
