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PKN Orlen and Synthos Green Energy. Small Nuclear Deal

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PKN Orlen and Synthos Green Energy have signed an investment agreement providing for the establishment of a joint venture Orlen Synthos Green Energy. The main goal of the project will be the preparation and commercialization of small nuclear reactor technology in Poland – announced in the release.

– Today we have signed an investment agreement between Synthos Green Energy and PKN Orlen. Orlen Synthos Green Energy will be established under joint control, a company that will invest, develop and cooperate in the field of nuclear technologies, i.e. micro and small nuclear reactors – announced on Tuesday during a press conference the president of PKN Orlen, Daniel Obajtek.

The president of the Płock concern emphasized that PKN Orlen is already a multi-energy concern, but in order to further develop and at the same time develop the Polish economy, it must make “here and now” decisions that cover the perspective of 20, 30 years, including in the energy segment, and especially low – zero emission energy sources. Obajtek recalled, among others on the takeover of the Energa Group by PKN Orlen, as well as on projects related to wind farms, both onshore and planned in the Baltic Sea.

– Atom is our future. It is the future of our country – assessed the president of PKN Orlen. At the same time, he stated that investments in micro and small nuclear reactors, being the domain of such entities as the concern, do not exclude large projects in the field of nuclear energy, which are the domain of the state.

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PKN Orlen has signed an agreement with Synthos Green Energy

PKN Orlen announced in a statement that a new joint venture Orlen Synthos Green Energy will be established to commercialize the technology of micro and small nuclear reactors, in particular the BWRX-300 GE Hitachi Nuclear Energy reactors.

As indicated, the signed contract provides for a wide range of the company’s activities, including, inter alia, technology promotion, supporting the development of legal solutions, researching individual locations for the construction of installations, implementation of joint investments, and finally also the production of energy and heat using these technologies for own, municipal and commercial needs.

The president of PKN Orlen announced that the first BWRX-300 reactor will be built in Canada in 2028. – I hope that the next reactor will be built in Poland in 2029 – said Obajtek. Michał Sołowow, the owner of the Synthos Group, emphasized that the BWRX-300 reactor “is an evolutionary solution developed by the American GE group with extensive experience in this area, which has been operating in Poland for 30 years and has an extensive supply chain, which consists of over 3000 companies “.

Jacek Sasin, Deputy Prime Minister and Minister of State Assets, noted on Twitter that “the EU climate policy forces transformation of the energy sector in our country”. “The signing of an investment agreement by PKN Orlen for small nuclear reactors is in line with the industry modernization plans. This is an opportunity for effective and safe decarbonization. In the future, nuclear will be the most stable source of energy,” wrote Sasin.

PKN Orlen reminded that, in line with the Orlen Group’s strategy, the concern intends to achieve emission neutrality by 2050.

Main photo source: PKN Orlen



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