World News | US Ready to Lend Poland $4 Billion for Nuclear Energy Plan
Get latest articles and stories on World at LatestLY. A project to develop small nuclear power reactors in Poland is moving forward, with a cooperation agreement between the Polish energy giant ORLEN and two U.S. government financial institutions signed Monday.
Warsaw, Apr 17 (AP) A project to develop small nuclear power reactors in Poland is moving forward, with a cooperation agreement between the Polish energy giant ORLEN and two U.S. government financial institutions signed Monday.
Poland is turning toward renewable and non-carbon energy, away from its past reliance on its own coal.
Moscow's invasion of Ukraine has also accelerated Poland's drive to cut its dependence on Russian oil and gas.
In a ceremony at the U.S. ambassador's residence in Warsaw, the U.S. EXIM Bank signed a letter of interest in lending up to $3 billion and the U.S International Development Finance Corporation signed a letter of interest to lend up to $1 billion to the ORLEN Synthos Green Energy project for developing some 20 small modular reactors designed by GE Hitachi Nuclear Energy.
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U.S. Ambassador Mark Brzezinski stressed that Russia's aggression against Ukraine almost 14 months ago reinforced the need to turn toward safe and reliable energy sources.
At a later news conference, Poland's Prime Minister Mateusz Morawiecki said that Poland needed a “cheap, clean and reliable energy source” like the SMR reactors, which will produce emission-free energy and be a driving force for the economy for decades to come. (AP)
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)