World News | US ready to lend Poland $4 billion for nuclear energy program

WARSAW, April 17 (AP) — Polish energy giant ORLEN and two U.S. government financial institutions signed a partnership agreement Monday as a project to develop a small nuclear power reactor in Poland moves forward.

Poland is shifting to renewable and non-carbon energy sources, away from its past reliance on domestic coal.

Read also | Sudan clashes: The death toll rose to 97 as airstrikes and shelling intensified in parts of Khartoum for a third day.

Moscow’s invasion of Ukraine has also accelerated Poland’s efforts to reduce its dependence on Russian oil and gas.

During a ceremony at the U.S. Ambassador’s residence in Warsaw, the U.S. Exim Bank signed a letter of intent for a loan of up to $3 billion and the U.S. International Development Finance Corporation signed a letter of intent for a loan of up to $1 billion to ORLEN Synthos Green Energy Developed by GE Hitachi A project of about 20 small modular reactors designed by nuclear energy companies.

Read also | North Korean leader Kim Jong Un celebrates the completion of another 10,000 new homes in Pyongyang.

US Ambassador Mark Brzezinski stressed that Russia’s aggression against Ukraine nearly 14 months ago reinforced the need to switch to safe and reliable energy.

At a subsequent press conference, Polish Prime Minister Mateusz Morawiecki said Poland needed “cheap, clean and reliable energy” like the SMR reactor, which would generate emission-free energy and become a The driving force of the economy for decades to come. (Associated Press)

(This is an unedited and auto-generated story from a Syndicated News feed, the body of content may not have been modified or edited by LatestLY staff)