Current reports
Current report no. 36/2022
Conclusion of a letter of intent regarding the cooperation in the project of building a nuclear power plant
Legal basis:
Art. 17 sec. 1 MAR – inside information
Contents of the report:
The Management Board of ZE PAK SA („Company”) informs that on October 31, 2022, the Company concluded a letter of intent („Letter of Intent”) with Korea Hydro & Nuclear Power Co., Ltd., Korean state-owned company with its seat in Gyeongju, Republic of Korea and with PGE Polska Grupa Energetyczna S.A. with its seat in Lublin („Parties”).
The Parties intent to cooperate within the strategic Polish-Korean project to build a nuclear power plant in Pątnów („Project”). The parties decided to cooperate to develop a plan for the development of a nuclear power plant based on the Korean APR1400 technology, including in particular analysis of data on geotechnical, seismic and environmental conditions, development of an estimated budget for the preparatory work, the construction stage and the production stage together with the proposed financing model for the Project and development of the expected Project schedule along with defining dates for key milestones. The parties intend to prepare a development plan by the end of 2022.
The area in Pątnów is defined in the "Energy Policy of Poland until 2040" and in the "Polish Nuclear Energy Program" adopted by the Council of Ministers of the Republic of Poland on February 2, 2021 and October 2, 2020, respectively, as one of four possible locations for a nuclear power plant in Poland.
The Letter of Intent will expire after three years and may be extended for another year with the consent of all parties.
Signatures of persons representing the Company:
Piotr Woźny – President of the Management Board
Maciej Nietopiel – Vice President of the Management Board
Andrzej Janiszowski – Vice President of the Management Board