Poland's SGE reaches small reactor deal with Orlen

WARSAW, Sept 30 (Reuters) - Poland's Synthos Green Energy (SGE), which holds the rights to GE Vernova Hitachi's technology for small modular nuclear reactors, has reached a deal with Orlen on a joint small modular nuclear reactor project, company founder Michal Solowow told a conference in Warsaw on Wednesday.

• SGE agreed with Poland's Orlen in 2025 to create a joint venture called OSGE to build small modular nuclear reactors, but the companies have been involved in prolonged talks on the terms of cooperation.

• SGE plans to build a fleet of 14 small modular nuclear reactors in Britain at a total cost of £35 billion and has initial agreements to deploy SMRs in Hungary and Slovakia.

• SGE plans to secure government backing for the projects through contracts for difference (CfDs).

• Under the CfD schemes, developers take on construction risk but are given a guaranteed strike price for the electricity produced. If wholesale power prices go below that level, the government covers the difference, with the money typically recovered through electricity bills.