US ready to lend Poland $4 billion for nuclear energy plan

WARSAW, Poland (AP) — A project to develop some 20 small nuclear power reactors in Poland is moving forward, with a cooperation agreement between the Polish energy giant PKN ORLEN and two U.S. government financial institutions. Poland, which has traditionally relied heavily on its own coal and Russian energy imports, is seeking a shift toward renewable and noncarbon energy. In a ceremony Monday, the U.S. EXIM Bank and the International Development Finance Corporation signed letters of interest to lend up to $3 billion and $1 billion respectively to the ORLEN Synthos Green Energy project. The money will be used to develop small modular reactors designed by GE Hitachi Nuclear Energy. The first one to be launched by 2029.