US-Poland collaboration on development of nuclear power

The American company IP3 became the main advisor of the Pątnów-Adamów-Konin Power Plant Complex (ZE PAK) for the development of the nuclear power implementation plan in Poland. The former US ambassador to Poland, Georgette Mosbacher, is part of the IP3 board, ZE PAK announced.

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As emphasised by the company, ZE PAK is currently involved in various initiatives that can provide Poland with clean and cheap energy, such as the recently completed largest solar farm in Poland. They also plan to use the atom to produce hydrogen, which may be used in various sectors of the economy. Last year the company announced they would cease production of electricity from coal by 2030.

IP3 founder and president Michael Hewitt estimated that nuclear energy will play a key role in the global structure of electricity production. “We want highly industrialised countries to be able to use existing technologies and effectively achieve the climate goals set for 2040,” Mr Hewitt emphasised.

In his opinion, this plan, implemented by the private sector, will allow Poland to successfully enter this demanding market and prepare for the transition to hydrogen and nuclear technologies.

“Nuclear technologies are a key element that can provide Poland and other countries of the Three Seas group with a sufficient amount of clean energy. Poland’s long-term energy security requires the presence of the private sector in this area as well as a plan to support innovation in the field of nuclear systems,” Ms Mosbacher said.

The cooperation will involve applying for and obtaining approval from relevant authorities - both American and Polish, as well as international organisations. IP3 will also coordinate the obtaining of approval from national supervisory and regulatory bodies supplying the technology. ZE PAK will work with IP3 to prepare the groundwork and a financial plan choosing the right combination of technology.

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Polish billionaires Zygmunt Solorz, a significant shareholder of ZE PAK and Michał Sołowow, the head of Synthos group, opted earlier in the summer to start a joint venture to build a nuclear power plant in Pątnów, based on the use of small modular reactors (SMR). ZE PAK plans to invest in 4 to 6 SMR type reactors with a capacity of 300 MW each.

According to Mr Solorz, “nuclear projects, regardless of whether they are planned in Poland or abroad, must deal with complicated regulatory matters and political conditions.” This was the reason for turning to IP3. Mr Solorz also expressed his satisfaction of Ms Mosbacher’s support of the project.

Georgette Mosbacher, whose earlier successful business interests before entering the political sphere included cosmetics, served as Ambassador in Warsaw after her appointment by the Trump administration, between 2018 and January this year, the first woman in the role. In 2015 President Obama appointed her to the Atlantic Council.

The company IP3 has been operating in the area of planning, development, financing and operation of new projects for nuclear energy since 2016.