Pinsent Masons supports SGE on joint venture project for the development of small modular reactors

The development will be located in Pątnów, a district of Konin, on land owned by ZE PAK. The transaction represents an important step towards the deployment of SMR technology (small modular reactors) in Poland and is of strategic significance to the transformation of the country’s energy sector. The development will also make a significant contribution to Poland’s energy security and support the competitiveness of the Polish economy.

Pinsent Masons provided comprehensive legal advice throughout the negotiation of the shareholders’ agreement, which sets out the principles of the parties’ cooperation on the SMR development and its further advancement.

The transaction was led by Partner Błażej Zagórski and Legal Director Joanna Białoskórska. The transaction team also included Legal Director Jakub Szczygieł, Senior Associate Tomasz Piotrowski, and Associates Natalia Cichocka-Stępień and Weronika Burek from the Corporate and M&A team in Warsaw.

Real estate matters relating to the project were handled by Partner Piotr Staniszewski, Senior Associate Kamil Igielski and Associate Kamil Gapski from the Real Estate team.

SGE is a European small modular reactor (SMR) development platform founded in 2019 and headquartered in Warsaw. The company is a co-investor in a standardised project based on the world’s most advanced commercially available SMR technology, the BWRX-300 reactor developed by GE Vernova Hitachi Nuclear Energy. By combining proven technology with an innovative business model, SGE has become a leading SMR project developer in Europe. The company is currently developing partnerships and projects across several European countries. In the United Kingdom, SGE is developing a fleet of fourteen BWRX-300 reactors with a combined capacity of 4.2 GW across three multi-reactor sites. The proposal has qualified for the Advanced Nuclear Framework programme led by Great British Energy - Nuclear.