Sat. Jun 3rd, 2023

Brussels, 17 March 2023

The European Commission has approved, under the EU Merger Regulation, the creation of a full-function joint venture by Polski Koncern Naftowy Orlen S.A. (‘Orlen’) and Synthos Green Energy S.A. (‘SGE’), both of Poland.

The joint venture will develop and deploy small and micro modular reactors (‘SMR’ and ‘MMR’, respectively), explore potential reactor sites, and, once the nuclear power plants are operational, commercialise SMR/MMR-generated electricity in Poland. Orlen is an oil refiner and petrol retailer. SGE is active in the development and implementation of zero-emission energy technologies.

The Commission concluded that the proposed acquisition would raise no competition concerns, given its very limited impact on the market. The transaction was examined under the simplified merger review procedure.

More information is available on the Commission’s competition website, in the public case register under the case number M.10933.

Source – EU Commission

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