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Poland halts nuclear power plans, looks to renewable energy

poster renewables not nuclearPolish nuclear capacity will not be built before 2030: PGE -Adam Easton, newsdesk@platts.com
–Edited by Jonathan Loades-Carter, jonathan.carter@spglobal.com Warsaw (Platts)–12 Jul 2016 

* PGE may modify nuclear investment

Poland’s largest utility Polska Grupa Energetyczna (PGE) is not giving up its plans to build the country’s first nuclear reactors but the investment may be modified and will not be realized until after 2030, PGE’s chief executive Henryk Baranowski said Tuesday……..

the company was looking at other means of financing the nuclear project after the PiS government, which took office last November, rejected contracts for difference.

“What is certain is that nuclear power cannot be carried out today under a purely market formula. Developing the optimal financing method will require in-depth dialogue. The result will have to be a compromise between the demands of the investors and the needs of the consumers,” he said……

In terms of renewable energy Baranowski said PGE was interested in developing offshore wind in the Baltic Sea.

“An interesting and least talked about technology today is offshore wind. We will continue to prepare to build such capacity in the Baltic despite the high costs. Now we’re calculating the profitability of such investments and we’re analyzing possible financing models,” he said…….http://www.platts.com/latest-news/electric-power/warsaw/polish-nuclear-capacity-will-not-be-built-before-26489875

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July 13, 2016 - Posted by | business and costs, EUROPE, politics

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