Pekao, BGK, PKO BP and Santander BP have a financing agreement with Orlen Synthos Green Energy

Bank Pekao, Bank Gospodarstwa Krajowego (BGK), PKO Bank Polski and Santander Bank Polska signed a cooperation agreement with Orlen Synthos Green Energy (OSGE), according to which the parties to the agreement will work together on the preparation of an optimal model for financing the construction of BWRX-type nuclear reactors 300, and then securing the financing of the project, Pekao reported.

The BWRX-300 is a 300 MWe small modular reactor (SMR) from the American-Japanese company GE Hitachi Nuclear Energy. Orlen Synthos Green Energy (OSGE) – a joint venture of PKN Orlen and Synthos has the rights to implement this technology in Poland and plans to deploy the BWRX-300 SMR fleet throughout the country.

“The Polish energy industry is undoubtedly facing a huge challenge – transformation towards effective and emission-free technologies. Nuclear energy is certainly a good answer to this challenge, and smaller, distributed reactors can be a relatively quicker and easier to implement form of power expansion. Bank Pekao, which has ambitions to be the leader of energy transformation in Poland, is naturally interested in participating in this project,” said Leszek Skiba, President of Bank Pekao, quoted in the release.


Yesterday, PKN Orlen announced that the first modular nuclear reactors (SMR) in Poland may be built in Włocławek, Ostrołęka, Stawy Monowskie, Kraków, Dąbrowa Górnicza, the vicinity of Warsaw and Tarnobrzeg-Stalowa Wola. By the end of 2023, the concern is to announce a total of 20 locations for the construction of SMRs. Obejtek also announced that OSGE will be able to start investing in the first reactor in Poland in 2026 or 2027.

The Synthos capital group is a leading producer of chemical raw materials in Poland and Europe. It was listed on the Warsaw Stock Exchange from 2004 to April 2018.

The PKN Orlen Group manages refineries in Poland, the Czech Republic and Lithuania, conducts retail operations in Central Europe, mining operations in Poland, Norway, Canada and Pakistan, as well as energy production, including renewable energy sources, and natural gas distribution. As part of building a multi-energy concern, the company finalized the acquisitions of Energa, Grupa Lotos and PGNiG. Its consolidated sales revenues reached PLN 278.51 billion in 2022. The company has been listed on the Warsaw Stock Exchange since 1999.


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