Nuclearelectrica, the nuclear energy power producer, has selected China General Nuclear Power Corporation (CGN) as investor for the development of two new nuclear reactors in Cernavoda, which will cost around EUR 6.5 billion.
The Chinese company was the only bidder in the tender procedure organized by Nuclearelectrica.
“According to the updated calendar, the next steps of the selection procedure are: the negotiation and signing of the memorandum of understanding regarding the joint implementation of the project and the negotiation of the incorporation articles and the agreement of investors on the new project company,” said Nuclearelectrica in a statement. The Chinese investors will hold at least 51 percent of the joint-venture, according to the project’s strategy.
At present, the two nuclear reactors in Cernavoda cover roughly 20 percent of Romania’s electricity consumption annually.