Poland's first nuclear power plant estimated to cost $40 bln
BUCHAREST, July 24 (Reuters) -Poland's first nuclear power plant will cost an estimated $40 billion and while the funding structure for the project has yet to be finalised, the United States will contribute through Exim Bank US, a senior official from the U.S. Department of Energy said on Wednesday.
Warsaw plans to build six reactors worth 6-9 gigawatts (GW) of nuclear capacity in two locations on the Baltic coast to reduce the country's carbon emissions and phase out coal.
In 2022, Poland's previous government chose Westinghouse Electric Co to build the plant, which is set to be in full operation by 2040.
"So it's six reactors, $40 billion total," a senior U.S. Department of Energy official told Reuters on the sidelines of an annual Transatlantic Energy and Climate Cooperation (P-TECC) conference in Romanian capital Bucharest.
The funding structure was still being negotiated, the official said.
"But basically, the primary financing is coming through Exim Bank U.S. We are proposing ... a sort of special vehicle that will be created so that the United States, through Exim Bank, can take a direct stake in the project, which is what the Poles had asked for."
"So it's not a direct equity, but it creates a vehicle that provides equity through a special vehicle."
The official added the proposal is expected to be approved by the Exim Bank board over the course of next year.
Warsaw had been seeking a partner to build the power plant and provide up to 49% equity financing for the project.
In June, Maciej Bando, deputy climate minister in charge of strategic energy infrastructure, was quoted saying a final cost estimate will become possible when the details of the construction contract are available next year and financing for the project is closed.
Reporting by Luiza Ilie; editing by Jane Merriman
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