The PALLAS financing project consists of two phases: a publicly funded phase followed by a privately funded phase.
The Foundation Preparation Pallas reactor was founded on December 16, 2013 with the aim to successfully realize the first phase. This means the European tendering of the design of the new PALLAS reactor and obtaining the necessary licenses. For this phase the government has granted a loan of 80 million euros.
The second objective of the Foundation Preparation Pallas reactor looks ahead to the second phase and involves attracting private resources to realize the construction and commissioning of the PALLAS reactor. PALLAS has developed a solid business case as a basis to eventually refinance the PALLAS project based upon private capital. It is obvious that the Foundation Preparation Pallas reactor will then be converted into a new entity. Hence, in this sense the time horizon of the Foundation is limited.
It is up to the Foundation Preparation Pallas reactor to ensure a smooth transition between the above phases. This means that the work being done within the PALLAS project is not only focussed on the ultimate physical realization of the new PALLAS reactor, but that there is also a strong focus on the realization of its private financing. This task is assigned to a dedicated team that will report to the managing director. PALLAS is in discussions with potential investors and is attracting the interest of serious international private investors.