March 15, 2017 / 4:40 PM / in 4 months

Poland to work out financing plan for first nuclear plant by end June

2 Min Read

WARSAW, March 15 (Reuters) - Poland, which produces most of its electricity from coal, aims to work out a plan for how to finance the construction of its first nuclear power plant by the end of June, Energy Minister Krzysztof Tchorzewski said on Wednesday.

Poland announced the project to build the plant in 2009 but it hit numerous delays due to falling power prices and Japan's 2011 Fukushima nuclear accident, which drained public support.

The Law and Justice (PiS) government last year revived the plan to build the 1-gigawatt nuclear power plant in the next 10 years.

"Such a model is a very important thing. It would be good if we succeed in working this out in the first half of this year," Tchorzewski told reporters.

Tchorzewski said the plant would help Poland significantly cut carbon emissions, which the country could use as an argument in its negotiations with the European Commission over emissions targets.

Poland opposes the Commission's draft reform called "winter package", which proposes binding targets to cut energy use by 30 percent by 2030 and aims to put Europe on track for renewables to power half of the continent by 2030. (Reporting by Agnieszka Barteczko; Editing by Mark Potter)

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