Romania has invested USD 1 bln in nuclear reactors 3-4 at Cernavoda

Razvan Nicolescu, the delegate minister of energy, said the development of two nuclear reactors in Cernavoda will continue “no matter what  the situation is” after Romania has already invested USD 1 billion in the project.

Nuclear energy is critical for Romana’s energy mix, covering roughly around 20 percent of the electricity consumption each year.

“Up to now USD 1 billion was invested in the projects of reactors 3-4 and nobody will accept to give it up, no matter if it will be ready in 2021, 2025 or 2027. There are partners interested , but nothing has been decided up to now,” said the minister during an event organized by The Economist magazine.

Nuclearelectrica, the state-owned nuclear power producer, has recently selected China General Nuclear Power Corporation (CGN) as investor for the two nuclear reactors. The government will have to negotiate next with the Chinese company the set up of the project company to build the reactors. Under the terms of the deal, the Chinese energy firm would hold at least 51 percent of the project company that acts as a joint venture.

The construction of the two new units would require an investment of around EUR 6.5 billion.

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Ovidiu Posirca