Poland's SGE reaches small reactor deal with Orlen (updated)

GE Vernova

30/09/2026 16:30

Adds 500-million-zloty investment in final bullet point
WARSAW, Sept 30 (Reuters) - Poland's Synthos Green Energy (SGE), which holds the rights to GE Vernova Hitachi's technology for small modular nuclear reactors, has reached a deal with Orlen on a joint small modular nuclear reactor project, company founder Michal Solowow told a conference in Warsaw on Wednesday.
SGE agreed with Poland's Orlen in 2025 to create a joint venture called OSGE to build small modular nuclear reactors, but the companies have been involved in prolonged talks on the terms of cooperation.
SGE plans to build a fleet of 14 small modular nuclear reactors in Britain at a total cost of £35 billion ($46.4 billion) and has initial agreements to deploy SMRs in Hungary and Slovakia.
OSGE plans to secure government backing for the projects through contracts for difference (CfDs).
Under the CfD schemes, developers take on construction risk but are given a guaranteed strike price for the electricity produced. If wholesale power prices go below that level, the government covers the difference, with the money typically recovered through electricity bills.
OSGE said in a post on X that it had also secured an investment of 500 million zlotys ($129.9 million) from a group of Polish investors including InPost CEO Rafal Brzoska for the project.
     
     
($1 = 3.8485 zlotys)
($1 = 0.7541 pounds)

(Reporting by Marek Strzelecki, additional reporting by Alan Charlish; Editing by Tasim Zahid)
((alan.charlish@thomsonreuters.com;))