Polskie Elektrownie Jądrowe (PEJ) has received a letter of intent (LOI) from Export Development Canada (EDC), for up to US$1.45 billion (equal to nearly PLN 6 billion) to potentially support Poland’s first nuclear power plant project. The LOI is in support of the sale of goods and services by Canadian suppliers. EDC joins the ranks of foreign entities considering to financially support the Lubiatowo-Kopalino power plant project. Earlier such expressions of interest were made by U.S. entities.
“We are pleased to see strong interest in our investment project from leading players in the global financial market, with whom we are in constant contact. The letter of intent from the Export Development Canada is another confirmation of this fact, and at the same time our next step towards implementation of the strategy for obtaining financing for the entire project,” said PEJ Vice President Piotr Piela.
EDC is a Canadian Crown corporation with many years of experience in financing energy projects around the world. Its mission is to support Canadian exports and to develop Canadian international trade. EDC support is subject to the successful completion of its detailed due dilligence process and credit approval.
Earlier, PEJ received letters of intent from the U.S. Export-Import Bank and the International Development Finance Corporation for a total equivalent of about PLN 75 billion. Cooperation with export credit agencies is an important part of the strategy for securing financing for the nuclear power plant in Pomerania – it involves continuing discussions with, among others, entities from countries with extensive nuclear supply chains, in order to maximize and optimize financing opportunities for this key investment project for Poland.
