Poland to allocate $14.7 billion for the construction of the first nuclear power plant

The document stipulates that Polskie Elektrownie Jądrowe Sp. z o.o. (PEJ) will receive PLN 60.2 billion ($14.7 billion) in 2025-2030 to support investments in the 3.75 gigawatt nuclear power reactors at the Baltic seaside.
The support will be provided in the form of an increase in PEJ's authorised capital by transferring cash to PEJ. It is also possible to increase the authorised capital by making a non-monetary contribution – bonds, depending on the investment’s schedule.
Poland is planning to complete the project in 2036 to replace aging coal-fired power plants and maintain a stable supply to its grid. The new equity input will account for 30% of the plant's funding, and the remainder will come in the form of debt from the US Export-Import Bank and other financial institutions, Bloomberg writes.
The decision comes as the European Commission is examining Poland's proposal for the state aid to the project, which, in addition to the equity injections, includes a contract for the price difference for electricity from the plant and state guarantees for PEJ's debt.
The implementation of Poland's first nuclear power plant project must be approved by the European Union. The EU’s executive body said last month that it "has doubts at this stage on whether the measure is fully in line with EU state aid rules."
The first power unit is scheduled to be completed by 2035, and electricity will be supplied to the national grid in 2036 after a year of testing.