The company behind Poland’s first nuclear power project has secured a letter of intent worth US$1.45bn from Export Development Canada (EDC).

The deal is still subject to a “detailed due diligence process and credit approval”, says Polskie Elektrownie Jądrowe (PEJ), the state Polish firm tasked with developing the power plant in the northwest of the country.

But the export credit agency (ECA) funding would support the sale of goods and services by Canadian suppliers, it notes.

Westinghouse Electric Company has been selected by the Polish government as the technology provider for the facility and is set to supply its AP1000 nuclear power plant technology, which uses pressurised water.

In a statement, the North American firm says it “helped facilitate” EDC’s financing for the nuclear facility.

Dan Lipman, president of Westinghouse Energy Systems, says the financing agreement underscores the “important role Canada will play in helping Europe secure and diversify its energy future”.

As Poland works to diversify away from coal, it is increasingly looking to tap the export finance market for support in developing renewable projects, such as offshore wind and nuclear energy.

PEJ says it has also signed letters of intent with the Export-Import Bank of the United States and International Development Finance Corporation, which together are considering support of about US$18.4bn.

“EDC joins the ranks of foreign entities considering to financially support the Lubiatowo-Kopalino power plant project,” the firm says. “Cooperation with export credit agencies is an important part of the strategy for securing financing for the nuclear power plant in Pomerania.”

Last year, EDC agreed to provide C$3bn in export finance to a Romanian nuclear energy company in a deal backing the construction of two new reactors in the Eastern European country. The Canadian government said the project would help “reduce continental reliance” on Russian energy.

UK Export Finance (UKEF) has also been active in the nuclear sector, signing a deal with the Ukrainian government in July. The £181mn UKEF-backed loan is being used to help Ukraine’s nuclear power plant operator Energoatom pay UK-headquartered supplier Urenco for enriched uranium for the country’s nuclear power plants.