US ready to lend Poland $4 billion for nuclear energy plan
A project to develop about 20 small nuclear power reactors in Poland is moving forward as Polish energy company Orlen and two U.S. government financial institutions signed an agreement
WARSAW, Poland (AP) — A project to develop small nuclear power reactors in Poland is moving forward, with Polish energy company Orlen and two U.S. government financial institutions signing an agreement Monday.
Poland is turning toward energy that is renewable or does not use climate-changing fossil fuels as it tries to break its reliance on coal. Moscow's invasion of Ukraine also has accelerated Poland's drive to cut its dependence on Russian oil and natural gas.
In a ceremony at the U.S. ambassador’s residence in Warsaw, the U.S. Export-Import Bank and U.S. International Development Finance Corporation signed letters of interest to lend up to $3 billion and up to $1 billion, respectively, to the Orlen Synthos Green Energy project. It's aims is to develop around 20 small BWRX-300 modular reactors designed by GE Hitachi Nuclear Energy.
U.S. Ambassador Mark Brzezinski stressed that Russia's aggression against Ukraine almost 14 months ago reinforced the need to turn toward safe and reliable energy sources.
