Poland takes significant step towards building first nuclear plants
- September 28, 2023
- Posted by: Quatro Strategies
- Categories: ESG & Renewable Energy, Europe, United States
Poland took a significant step towards its first nuclear power plant with the signing of a deal between the Polish government and a consortium of U.S. companies, including Westinghouse and Bechtel. The nuclear plant, to be situated in the Pomerania region near the Baltic Sea, is a central part of Poland’s move away from fossil fuels.
The $40 billion agreement with state-owned Polskie Elektrownie Jadrowe (PEJ) involves the construction of two plants, each with three reactors. The first reactor is expected to be online by 2033, with the entire project operational within a decade after that.
Poland views nuclear energy as a crucial element of clean energy and a means to reduce dependence on Russian energy supplies.
The government believes that without nuclear energy, along with large-scale and small modular reactors (SMRs), achieving climate ambitions and ensuring energy security will be challenging.
However, the stance on nuclear energy differs within the European Union. While countries like France support nuclear energy, Germany and Spain reject the idea that it should be classified as renewable. Pro-nuclear EU member states aim to achieve 150 gigawatts of nuclear power capacity in the bloc’s electricity mix by 2050.
Currently, there are 103 reactors in 13 of the EU’s 27 member states, contributing to approximately 25% of the EU’s energy, with more than half produced in France. Only Italy and Lithuania have completed a total phase-out of nuclear power so far.
QUATRO Strategies International Inc. is the leading business insights and corporate strategy company based in Toronto, Ontario. Through our unique services, we counsel our clients on their key strategic issues, leveraging our deep industry expertise and using analytical rigor to help them make informed decisions to establish a competitive edge in the marketplace.
Interested in learning more?
Sign up for Top Insights Today
Top Insights Today delivers the latest insights straight to your inbox.
You will get daily industry insights on
Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.
Read more insights
Brussels launches industrial revamp plan to boost EU competitiveness
The European Commission unveiled its Competitive Compass on Wednesday, a strategic plan aimed at reversing the industrial decline within the bloc while enhancing competitiveness against the United States and China, particularly in emerging fields such as artificial intelligence. The plan also emphasizes lowering energy costs and reducing bureaucratic…
Huawei building chip facilities in China to evade U.S. sanctions
Huawei Technologies Co is reportedly establishing secret semiconductor fabrication facilities across China to evade U.S. sanctions, according to the Semiconductor Industry Association, based in Washington. The Chinese tech giant, which entered chip production last year, is believed to be receiving around $30 billion in state funding from the Chinese government for its chip efforts. The association has stated that Huawei has acquired at least two existing plants and is constructing three more.
Chile’s Codelco expects to reach agreement on lithium with SQM this year
Chile’s state-owned mining company, Codelco, is reportedly expecting to reach an agreement with lithium miner SQM this year, according to Codelco Chairman Maximo Pacheco. This follows Chile’s government’s announcement earlier this year of plans to strengthen state control over the lithium industry, allowing only public-private partnerships to participate in lithium exploitation.
