PKN Orlen plans to build 76 SMRs by 2038

PKN Orlen, Poland's state-owned oil and gas company, has "ambitious" plans to build 76 Small Modular (nuclear - PAP) Reactors (SMRs) in Poland by the year 2038, the company’s CEO has said.

Daniel Obajtek made the announcement at a press conference on Tuesday after signing a letter of intent on cooperation between Orlen and several Polish universities on the establishment of nuclear energy studies.

He said that to ensure Poland's energy security it was necessary to change the energy sector and create an energy mix.

"We have an ambitious plan," he said, "the first SMR will be built in 2028... and by 2038... 76 SMRs in 26 locations," Obajtek told reporters.

He added that information on the possible locations of the reactors would be presented in the first half of this year.

According to Obajtek, the investment will cost "tens of billions of euros" and will be the largest energy investment not only in Poland, but also in Europe.

Referring to the deal signed on Tuesday, he said that the partnership with Polish universities was important as "we cannot only think about assets, but we also need to think about human capital."

"We have to rely on Polish universities that have experience. Some of them can reactivate this experience, some have to build it anew, but we have time for that," Obajtek said.