Nuclear power deals: Orlen will sign with Synthos Green Energy and Michał Sołowow

PKN Orlen is to be close to signing an agreement with Synthos Green Energy. It is a company owned by Michał Sołowow, currently the richest Pole. As the media unofficially learned, the state-owned enterprise will take over half of the partner’s shares under the agreement. Synthos is to build nuclear power plants.

Polityka Insight was the first to report unofficial information. According to the portal, PKN Orlen and Synthos Green Energy are to sign the agreement in June 2021. According to the document, the fuel concern is to take over half of the shares in Synthos Green Energy.

The Synthos Group belongs to Michał Sołowow, the richest Pole. The businessman’s fortune is estimated at around USD 4 billion, or around PLN 15.2 billion. Even in October 2019, the billionaire argued that nuclear energy is “the only rational alternative to coal”. However, he added that the small nuclear reactors planned by the company will not be a competition to the planned state-owned nuclear power plant.

According to the original plan, Synthos Green Energy was to build the first nuclear power plant in Poland in cooperation with GE Hitachi Nuclear Energy. A private facility would temporarily anticipate the construction of a state-owned power plant.

As we wrote in, the construction of the first state-owned nuclear power plant will be supervised by a new company called Polish Nuclear Power Plants. According to the government plenipotentiary for strategic energy infrastructure, Piotr Naimski, the registration process began in June.
The company will deal with the construction and operation of the Polish nuclear power industry. In addition to new products on the energy market, it is also about changing the name of the existing company PGE EJ1, which has recently been bought from shareholders by the State Treasury. Piotr Naimski explained in an interview with PAP that the name change is “in the process of registration”.

The tasks of the newly established company will include, inter alia, implementation of the Polish Nuclear Power Program. At the -Gaz-Chemia 2021 conference, the government plenipotentiary for strategic energy infrastructure explained what was going on.

The Polish Nuclear Power Program is the construction of 6 nuclear units with a total capacity of 6-9 GW, according to preliminary estimates, it will result in 20-25 percent of electricity produced in Poland will come from nuclear power plants.


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