The US International Development Finance Corporation (DFC) is considering supporting the project to build Poland’s first NPP at Lubiatowo-Kopalino. DFC signed a letter of interest (LOI) with Polish nuclear utility Polskie Elektrownie Jądrowe (PEJ) to provide more than PLN4bn ($980m) in financing. This is a sign of interest from the American administration in our project – said the Director of PEJ’s Financial Division Wojciech Rosiński. He added that LOI comes after several months of talks with DFC as well as other US institutions.
“DFC is committed to increasing regional energy security in Central and Eastern Europe,” said DFC investment chief Agnes Dasewicz. “The letter of intent is a step towards reducing regional dependence on Russian energy exports, while at the same time expressing the desire to strengthen economic growth and create jobs.”
DFC is a development finance institution and agency of the US government. DFC invests in development projects primarily in lower and middle-income countries. The Agency was first authorised in 2018 by the BUILD Act and was established in 2019 by merging the Overseas Private Investment Corporation (OPIC) with the Development Credit Authority (DCA) of the United States Agency for International Development (USAID), along with with several other smaller offices and funds. In 2020, DFC lifted a legacy prohibition on funding nuclear energy projects overseas.
In 2022, the Polish government selected the Westinghouse AP1000 reactor technology for construction at the Lubiatowo-Kopalino site in Pomerania. An agreement setting a plan for delivery of the plant was signed in May 2023 by Westinghouse, Bechtel and PEJ. The Ministry of Climate & Environment in July issued a decision-in-principle for PEJ to construct the plant, with the first unit expected to begin commercial operation in 2033. Under an engineering services signed with PEJ in September 2023, Westinghouse and Bechtel will finalise a site-specific design for a plant featuring three AP1000 reactors. The contract also involves supporting the investment process and bringing it in line with current legal regulations.
The DFC LOI comes after similar declaration, equivalent to some PLN70bn, was made by the American Export-Import Bank (Exim Bank), following many years of talks with Westinghouse. In September, the Polish government announced its intention to allocate PLN60bn to fund the project.
“I am glad that this key project is gaining momentum,” said Mark Brzeziński, US Ambassador to Poland. “The first Polish nuclear power plant is a symbol of our joint commitment to a clean and safe energy future. This is an important day for Polish-American relations! The United States is fully committed to supporting Poland’s energy transformation, including through the involvement of US financial institutions.”
