Westinghouse Welcomes Canadian Financing for Poland's First Nuclear Power Plant
Summary
PETERBOROUGH, Ontario Westinghouse Electric Company welcomes the Letter of Interest (LOI) for US$1.45 billion ($2.02 billion CAD) in financing from Export Development Canada (EDC) to support the AP1000 \xae project to build Polands first nuclear power plant. Westinghouse helped facilitate the financing for Polskie Elektrownie Jadrowe (PEJ), the state-owned company that is responsible for developing the plant at the Lubiatowo-Kopalino site in Pomerania.Not only does this financing agreement underscore the important role Canada will play in helping Europe secure and diversify its energy future, but it will also help prepare the nations nuclear supply chain to support the next AP1000 plant in North America, said Dan Lipman, President of Westinghouse Energy Systems. For each AP1000 unit that is built outside of Canada, Westinghouse could generate almost $1 billion of Canadian dollars in gross domestic product (GDP) through local suppliers.Owned by Canadian energy powerhouses Brookfield and Cameco, Westinghouse is the only nuclear vendor with a proven, fully operational Generation III+ reactor technology that is ready to be deployed in Canada and generate electricity by as early as 2035. The four-unit project would also create 12,000 high-quality full-time Canadian jobs and provide Canadian firms opportunities to support the more than 30 AP1000 units in the pipeline globally.Westinghouse Electric Company is shaping the future of carbon-free energy by providing safe, innovative nuclear and other clean power technologies and services globally. Over 135 years of innovation makes Westinghouse the preferred partner for advanced technologies covering the complete nuclear energy life cycle.