Financing Schemes for Nuclear Power in Poland's NPP-1 Project
Explore the proposed financing scheme for the NPP-1 project in Poland, including details on units, costs, contract status, and funding sources. Learn about tax subsidies, reactor technology selection, and the financing plan for both construction and operational phases.
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Presentation Transcript
Understanding PPA, CfD & RAB financing schemes Many ways for taxpayers to subsidize nuclear power new build in EU27+ (and the Globe) Proposed financing scheme in Poland for the planned NPP-1 (Lubiatowo-Kopalino) Current status & discussion Workshop within the Joint Project / NRPC 13th September, 2024 on-line (Zoom)
NPP-1: three units at one site (Choczewo) AP-1000 (from WEC) 3 x 1170 MWe net (1250 MWe gross) to be constructed (EPC) by Bechtel to be developed by PEJ company Poland s SPV for NPP-1; State-owned investor to be completed(commissioning ending) in: 2036, 2037 and 2038 respectively (unofficial but public declarations) safety concrete to be poured in 2028
CapEx (predicted total cost 3 units): ca. EUR 40 bn (ca. PLN 200bn) no tender for reactor technology supplying was run offers from two other consortia submitted: EDF and KHNP no tender for EPC is intended in terms of EU State-aid rules: aprovals & exclusions sought by PL gov't from the EC pre-notification negotiations started only in September 2023 pending notification procedure (start planned very soon, completion Q2 2025)
no main business contracts with PL signed to date: for reactor tech supplying WEC selected , but appointed only through the PL govt's decree of November 2022 for EPC Bechtel in the game likely by passive (default) association & natural touching with WEC no final investment decision (FID) taken to date financing support promised from the US side: mainly the US EXIM Bank; maybe International Development Finance Corporation (DFC); has not arrived at concrete decisions to date (signing of contracts, agremeents etc.); no concrete amounts been declared to date
no financing scheme presented in its entirety since programme conception scheme for construction phase: overall, has remained unknown; but assumptions reportedly exist (used for talks with the EC) elements of scheme equity increase: by ca. EUR 14 bn (PLN 60.2bn)from almost EUR 0.7 bn (PLN 3bn) spread in 6 years: PLN4.6 bn (in 2025), 11 bn, 14 bn, 13 bn, 11 bn and 6.6 bn source: direct feed fromState budget and/orTreasury bonds split of total investment outlays: own financing: 30 percent debt financing: 70 percent scheme for operational phase: CfD (two-way)
Thanxs (Questions from Audience are welcome.)
