KGHM learns from the European experience with SMR

Access to affordable, clean energy will allow us to remain competitive on global markets - said Marcin Chludziński, CEO of KGHM for Gazeta Bankowa. KGHM is planning to build modular nuclear reactors and is benefiting from the European experience. A delegation from the copper company discussed nuclear technology with representatives of the Romanian government.

In the interview for Gazeta Bankowa, the president of the copper giant highlighted that "when a technology appears that offers a chance for a breakthrough, for a major change, for an improvement - you have to be at the front of the peloton and not look back. We do not want to wait, queue up and watch other countries invest in nuclear technology. Only those who are at the beginning win."

Representatives of KGHM held discussions with representatives of the Ministry of Energy and the management of the Cernavoda Power Plant in Romania. They have also visited the power plant and familiarised themselves with the technological process. In 2020, Romania signed an agreement with the USA to form a consortium to build new reactors of the Cernavoda Power Plant by 2030.

In turn, the ambition of KGHM is to effectively increase the share of renewable energy sources and own production in meeting the energy demand. The company owns its own low-emission generation sources powered by gaseous fuel. It is also developing RES projects, including photovoltaic power plants on the land owned by KGHM.

One of KGHM's key projects is the implementation of Small Modular Reactors (SMRs). In this matter, the company has signed an agreement with the US technology provider - NuScale Power. The first power plant will be in operation by 2029. Clean energy will power the copper company's production facilities. The project is modular, and that translates into seamless scaling up of the undertaking.

The construction of small nuclear reactors by 2029 is directly related to the Climate Policy of KGHM Polska Miedź and the Company's new strategic direction - energy.