By Marcin Sobczyk
WARSAW--Polish state-controlled power utility PGE Polska Grupa
Energetyczna SA (PGE.WA) and a group of other state-held companies
will continue to work on a nuclear power plant project despite
regulatory delays, PGE said Tuesday.
In September, Poland's second-largest electricity producer,
Tauron Polska Energia (TPE.WA), its smaller rival Enea SA (ENA.WA),
and copper miner KGHM Polska Miedz SA (KGH.WA) each said they would
buy 10% of PGE's nuclear project. PGE will retain 70%.
The deal was subject to regulatory approvals and the
government's publication of a new program for nuclear power by the
end of this year, which hasn't happened.
Poland's government decided in 2008 to push forward with the
construction of the first nuclear power plant to cut its dependency
on highly polluting coal as the country's main energy source,
putting the state-owned PGE at helm of the project.
However, the global financial crisis and a nuclear disaster in
Japan sidelined the very expensive project and the government
focused on unconventional gas resources as a way to diversify
energy production.
Write to Marcin Sobczyk at marcin.sobczyk@wsj.com
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