Rymarz Zdort Maruta advises PGE on the formation of a joint venture with ZE PAK to build a nuclear power plant

We are pleased to announce that Rymarz Zdort Maruta advised Polska Grupa Energetyczna S.A. (“PGE”) on the formation of PGE PAK Energia Jądrowa S.A. The new company is a joint venture of PGE and ZE PAK S.A. (“ZE PAK”), with a 50% stake to be held by each of the two shareholders. The purpose of the new company is to prepare the Polish side for negotiations with the Korean company KHNP (Korea Hydro & Nuclear Power), which will build and provide the technology and know-how for Poland’s second nuclear power plant to be constructed in Pątnów in the Wielkopolskie region. The new company will represent the Polish side in all phases of the project. A preliminary memorandum of understanding regarding the formation of the company was signed in early March 2023. In late March, PGE and ZE PAK S.A. obtained the consent of the President of the Office of Competition and Consumer Protection for the formation of the company.

“We are happy to have been given the opportunity to support our client in a project that will hopefully make nuclear power a major source of safe, zero-carbon energy in Poland, alongside renewable energy sources. We wish to thank PGE for their confidence in us and congratulate all the parties involved in the project,” says Marek Durski, a partner and a head of our Energy and Natural Resources practice.

The team included Marek Durski (partner), Dr Marek Maciąg (partner), Iwona Her (partner), Łukasz Lech (counsel), Tomasz Kordala (senior associate) and Andrzej Granat (associate).