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Friday, July 20, 2012

Poland wants state companies to finance 6 GW nuclear plan: minister

Poland wants state companies to finance 6 GW nuclear plan: minister

Polish state-controlled companies should help finance the country's nuclear power plans, Treasury Minister Mikolaj Budzanowski said late Thursday.

The Polish government has tasked the country's largest power company, state-controlled Polska Grupa Energetyczna, to lead a consortium to build 6 GW of nuclear capacity in two separate locations by 2030, but there is concern about PGE's ability to finance the project alone.

Budzanowski said he would like to "combine the strength of the state Treasury companies" so that other power utilities, Tauron and Enea, and the country's copper miner, KGHM, co-finance the program.

"Financial investors, not direct [investors], but financial investors that will co-fund the investment together with PGE; for example, KGHM, Tauron and Enea," Budzanowski said on local television Superstacja. He added another state-controlled company could join the project.

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