Export-Import Bank of the United States Issues a $3B Letter of Interest for U.S. Nuclear Exports to Poland
WARSAW – Today, the Export-Import Bank of the United States (EXIM) signed a letter of interest issued to ORLEN Synthos Green Energy (OSGE) for up to $3 billion in financing for a potential project in Poland to deploy BWRX-300 small modular nuclear reactors designed by GE Hitachi Nuclear Energy. During the signing ceremony, EXIM was joined by U.S. Ambassador to Poland Mark Brzezinski, representatives from the U.S. International Development Finance Corporation (DFC), OSGE, GE Hitachi Nuclear Energy, and a delegation from the U.S. House of Representatives. Letters of interest are nonbinding statements that indicate that EXIM is open for business in the market identified and is willing to consider financing for a given export transaction should an application be submitted.
“Investing in energy solutions of the future and ensuring that clean energy innovations are American-made are among our agency’s top priorities,” said Export-Import Bank of the United States President and Chair Reta Jo Lewis. “We recognize the strategic importance of this project and are eager to receive ORLEN Synthos Green Energy’s application in order to begin due diligence on this potential opportunity.”
“I welcome ORLEN Synthos Green Energy partnering with GE-Hitachi for the deployment of Small Modular Reactors,” said U.S. Ambassador to Poland Mark Brzezinski. “The United States is helping advance this vital project. That is why today we are announcing a plan to provide significant project financing from the U.S. Development Finance Cooperation (DFC) and the Export-Import Bank (EXIM) of the United States. This is another demonstration of the United States’ strong commitment to bolstering Poland’s energy security.”
“We applaud the U.S. government’s consideration of financing for the deployment of BWRX-300 small modular reactors in Poland,” said Jay Wileman, President & CEO, GE Hitachi Nuclear Energy. “The BWRX-300 is the ideal technology to help Poland meet its climate and energy security goals.”
Last Thursday, EXIM also authorized a loan to OSGE for pre-project engineering services associated with potential deployment of a GE-Hitachi BWRX-300 small modular nuclear reactor in Poland. The loan will be structured as an Engineering Multiplier Program facility, which will support the pre-project development phase engineering assessments and studies including cost and construction estimates of the proposed project.
The Export-Import Bank of the United States (EXIM) is the nation’s official export credit agency with the mission of supporting American jobs by facilitating U.S. exports. To advance American competitiveness and assist U.S. businesses as they compete for global sales, EXIM offers financing including export credit insurance, working capital guarantees, loan guarantees, and direct loans. As an independent federal agency, EXIM contributes to U.S. economic growth by supporting tens of thousands of jobs in exporting businesses and their supply chains across the United States. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt. Learn more at www.exim.gov.