Together for the energy security of Poland

KGHM and TAURON signed the letter of intent concerning the cooperation in the construction of low-carbon energy sources, including with the use of small modular reactors (SMRs). The letter of intent was signed during the TOGETAIR 2022 Climate Summit in Warsaw.

- We have initiated the clean energy production project as one of the first in Poland. After signing the contract with the US partner we are now at the stage of preparation of analyses related to the investment. The SMR technology will boost the cost efficiency of KGHM and transform the Polish energy sector. Together with TAURON, we will work on and explore the opportunities of further development - said Marcin Chludziński, President of the Management Board of KGHM Polska Miedź.

- TAURON continues the assumptions of its Green Turn strategy, which is a concrete action plan for transition towards clean energy sources. Since the announcement of this strategy, we have increased our RES portfolio by five wind farms and three photovoltaic power plants, and the following projects are under way - says Paweł Szczeszek, President o the Management Board of TAURON Polska Energia. – We strive to make the modular reactors a core component of our target production mix. This will be most probably reflected in the new corporate strategy currently prepared in the Group. The cooperation with KGHM that we have established today opens up this perspective to us - adds the President of TAURON.

TAURON and KGHM intend among other things to jointly conduct the research and development works with the use of SMR technology. In future, also the other investment projects using the low-carbon energy sources may be brought into play. The companies focus on the schedule of works, while legal analyses and other undertakings promoting the activities that will positively affect the energy security of Poland are on schedule.

Under the contract entered into early in the year 2022, KGHM and NuScale will implement the SMR technology in Poland. The first power plant is to be in operation by 2029. This will allow Poland to avoid even 8 million of tonnes of CO₂ emission per annum. 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 is directly related to the Climate Policy of KGHM Polska Miedź and the company's new strategic direction - energy.

The TAURON Green Turn involves a number of actions aiming at significant change of the existing production sources, which are mostly based on fossil fuels, into the zero-carbon sources. These assumptions have been consistently implemented by the own development of projects and market acquisitions. Today the Group operates nine wind power plants of total capacity exceeding 380 MW, 34 hydro power plants of capacity of 132 MW and three photovoltaic power plant of capacity of 19 MW. By 2025, TAURON intends to operate 1600 MW of capacity installed in the renewable energy sources.

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. The copper tycoon participates in the tender procedure for development of the coastal wind projects in the Baltic Sea.