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Coal-dependent Poland contemplates to build its first nuclear power plant by 2029 to reduce carbon emissions. According to media reports, Warsaw announced the project in 2009, but hit numerous delays due to falling power prices and Japan’s 2011 Fukushima nuclear accident, which eroded public support. Last year, the ruling Law and Justice party (PiS) revived the plan after it won elections in 2015, and said it aimed to build the plant within ten years.

As per the plans, initially three three units (of the nuclear power plant) would come up in 5-year intervals, with the first one in 2029 at the cost of 23-25 billion zlotys ($7 billion) per unit. One of the project’s major obstacles has been financing. State-run, Poland’s biggest power firm which was responsible for it, failed to take it to a decisive phase. In 2010, PGE set up a special vehicle for the project and in 2014 agreed to sell a third of its stake to three state-run companies - KGHM, Enea and Tauron.  The energy ministry is now working on a new financing plan, which was supposed to be ready by end of June. 

(Credit Reuters

Monday, September 11, 2017

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