Polish Nuclear Power Company and U.S. Consortium Reach Agreement on Key Commercial Terms for EPC Contract of First Commercial Nuclear Power Plant

Polskie Elektrownie Jądrowe (PEJ), the Polish state-owned nuclear power engineering company responsible for the construction and operation of Poland's first nuclear power plant, announced that it has reached agreement with the nuclear power consortium (Bechtel-Westinghouse Consortium) formed by Westinghouse Electric Company and Bechtel on the core commercial and legal terms of the Engineering, Procurement and Construction (EPC) contract for Poland's first commercial nuclear power plant.

Polskie Elektrownie Jądrowe stated that the core terms finalized by both parties cover the key commercial rules and legal framework for project implementation, laying the institutional foundation for subsequent in-depth negotiations on contract details and related supplementary annexes. Although reaching consensus does not mean the end of the overall contract negotiations, both parties have clearly committed to fully concluding and formally signing the complete EPC contract by the end of this year.

The nuclear power project site is located in the Lubiatowo-Kopalino area of Choczewo commune along the coast of the Province of Pomerania in northern Poland. At present, the second phase of preliminary preparatory works at the site is being accelerated, and the earthwork excavation has been assigned to the general contractor Bechtel for coordinated implementation; Polskie Elektrownie Jądrowe previously formally submitted a Construction Licence application to the National Atomic Energy Agency (PAA) in March of this year.

According to the Polish government's previous technology selection, the nuclear power plant will be planned to build three AP1000 (AP1000) Generation III pressurized water reactor nuclear power units developed by Westinghouse. The first unit is scheduled to achieve First Concrete in 2028 and is expected to enter commercial operation in 2036, with the subsequent two units planned to be connected to the grid in 2037 and 2038 respectively.

In terms of funding guarantees, the Polish Parliament previously legislated to allocate 60.2 billion zlotys (approximately 14 billion euros/16 billion U.S. dollars) in dedicated investment funds from the state budget, covering approximately 30% of the project's construction costs, with the remaining funds to be raised through international bank loans in coordination with export credit agencies, and the relevant state aid financing scheme was formally approved by the European Commission at the end of 2025.