Poland and Canada sign nuclear power cooperation agreement

Reuters
28 Jan
UPDATE 2-Poland and Canada sign nuclear power cooperation agreement

Poland planning to build first nuclear power plant

Tusk says cooperation on small nuclear reactors important too

Says Poland needs more energy if it is to build big data centres

Adds background, Tusk quote on Google

WARSAW, Jan 28 (Reuters) - Poland and Canada have signed an agreement that provides a legal framework for more intensive cooperation on nuclear power, Polish Prime Minister Donald Tusk said on Tuesday after meeting his Canadian counterpart Justin Trudeau.

Poland, which is working to reduce its reliance on coal, has chosen Westinghouse Electric to build its first nuclear plant on the Baltic Sea coast, but financing is still not fully agreed.

It is now preparing to start the process of choosing a partner for a second plant.

"Canada is the main provider of technology for Poland's first nuclear plant - Westinghouse is owned by Canadian companies," Tusk said. "Cooperation on small nuclear reactors $(SMR)$ is also very important."

In 2023, Poland gave the green light for the construction of 24 SMR units across six sites, Orlen Synthos Green Energy (OSGE), a joint venture between Poland's biggest refiner Orlen PKN.WA and chemicals company Synthos, said.

The company plans to deploy the country's first small reactors by 2030.

Tusk also said on Tuesday that Poland needs new energy sources if it wants to become a leader in new technologies.

"This morning I met with the head of Google, who, without any prompting, said that Poland should become a European centre when it comes to artificial intelligence and cybersecurity," he said.

"For Poland to become a leader of modern technologies and a certain model for behaviour throughout Europe - for this we need particular source of energy. If we are going to build large data centres, it requires additional energy sources."

(Reporting by Pawel Florkiewicz and Alan Charlish. Writing by Anna Wlodarczak-Semczuk. Editing by Kirsten Donovan and Mark Potter)

((anna.wlodarczak@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10