ENERGO: US investors could help PKN Orlen’s small reactors project with up to $4bn

Two US financial institutions, Exim Bank and the International Development Finance Corporation (IDFC), are interested in providing Poland’s listed energy conglomerate PKN Orlen with up to $4bn in financing for the development of small nuclear reactors, according to a letter of intent signed on April 17.

Orlen Synthos Green Energy, a nuclear power joint-venture of the state-controlled PKN Orlen and chemicals company Synthos, is looking to develop a fleet of small nuclear reactors to provide electricity and heat to Polish cities.

According to the letter of intent, Exim could loan up to $3bn for the project while the IDF could provide up to $1bn for the construction of the first two power plants with BWRX-300 reactors.

The Polish company unveiled the first proposed locations for the reactors, to be built in GE-Hitachi’s BWRX-300 technology, on April 17. The reactors are planned in or near Warsaw, Krakow, Wloclawek, Ostroleka, Tarnobrzeg and Dabrowa Gornicza.