Poland Allocates $1.2 Bln for First Nuclear Power Plant

Poland is set to allocate 4.6 billion zlotys ($1.2 billion) in its 2025 budget to begin preparations for its first nuclear power plant, aiming to meet renewable and nuclear energy needs to lower electricity costs.

Finance Minister Andrzej Duda announced in Olsztyn, northeast Poland, that the country requires a mix of renewable and nuclear energy to reduce electricity expenses.

He outlined the initial expenses for what will be Poland's largest-ever investment, just days before a cabinet meeting to approve next year's budget draft.

Earlier this month, the government projected that around 60 billion zlotys would be needed for the project from 2025 to 2030, with additional funding secured from the United States, which provides the technology.

The plan anticipates the plant near the Baltic Sea to be operational within approximately 10 years.