Nuclear power roars back in Central Europe

As Europe transitions to a more sustainable future, the development and deployment of small modular reactors (SMRs) present exciting opportunities for the nuclear energy supply chain. With plans to develop and put the first SMRs into operation, EIC energy analyst Aadam Sufi looks at why Poland, the Czech Republic and Romania should be on your radar

Poland

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One of few countries in Central Europe with no operational nuclear reactors for power generation, Poland is emerging as a potentially lucrative nuclear market. Having traditionally relied on domestic coal power generation for its energy needs, supplemented by Russian oil and gas, it now plans to have nuclear power from about 2033.

EICDataStream is currently tracking eight SMR projects requiring a combined investment of US$8bn, and a number still in very early stages.

Estimated CAPEX spend up to 2039

Poland

8 SMR projects worth US$8bn

Czech Republic

3 SMR projects worth US$1.5bn

Romania

1 SMR project worth US$1bn

SMR plant, with a further 13 to be decided.

Other players include KGHM, working with NuScale to build the first 462MW VOYGR-6 SMR in Poland by 2029. Rolls-Royce SMR has signed a memorandum of intent with state-owned Industria to collaborate on three SMRs to power its Central Hydrogen Cluster.

Who are the key players?

Polish companies PKN Orlen and Synthos Green Energy have formed a joint venture (JV), Orlen Synthos Green Energy, that will commercialise SMR construction in Poland. The JV will use GE Hitachi’s BWRX-300 reactor – a 300MW SMR that could power 300,000–350,000 households for 60–90 years.

The ambitions are far-reaching: 79 reactors to be built by 2038, the first by 2030. Seven sites have been announced for preliminary studies to assess suitability for an

US backing

US, Canadian and Polish companies including BWXT, OPG and Tennessee Valley Authority are cooperating to roll out GEH’s design, and all three countries’ nuclear regulatory agencies are working together. The US is looking to back Polish projects with up to US$4bn in financing via the Export-Import Bank and US International Development Finance Corporation.

Why invest?

Given the non-existent current market, opportunities are rife for early-stage contracts. These include environmental and geological studies for site surveying and shortlisting of potential sites, with construction work likely available in a few years. Poland will also be looking to improve its nuclear skills and expertise, so technical support from other countries, especially Western countries with whom Poland has good relations, will be crucial. The Polish government is funding various initiatives, including training activities, international promotion and policy development.