US ready to lend Poland $4 billion for nuclear energy plan
A project to develop some 20 small nuclear power reactors in Poland is moving forward, with a cooperation agreement between the Polish energy giant PKN ORLEN and two U.S. government financial institutions
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.A project to develop small nuclear power reactors in Poland is moving forward, with a cooperation agreement between the Polish energy giant ORLEN and two U.S. government financial institutions signed Monday.
Poland is turning toward renewable and noncarbon energy, away from its past reliance on its own coal. Moscow's invasion of Ukraine has also accelerated Poland's drive to cut its dependence on Russian oil and gas.
In a ceremony at the U.S. ambassador’s residence in Warsaw, the U.S. EXIM Bank signed a letter of interest in lending up to $3 billion and the U.S International Development Finance Corporation signed a letter of interest to lend up to $1 billion to the ORLEN Synthos Green Energy project for developing some 20 small 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.
At a later news conference, Poland's Prime Minister Mateusz Morawiecki said that Poland needed a “cheap, clean and reliable energy source” like the SMR reactors, which will produce emission-free energy and be a driving force for the economy for decades to come.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.