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Bucharest
October 25, 2021
BUSINESS

Cernavoda nuclear reactors 3 and 4: Agreement with Chinese partner could be finalized this year?

The investment agreement with the Chinese company for the construction of nuclear reactors 3 and 4 of the Cernavoda nuclear power plant could be finalized by the end of the year. It is a new promise made by Energy Minister Andrei Gerea.

“It is well-known that it is not easy to negotiate with Chinese companies. This year we managed to do an important thing. We said let us erase all that we have discussed so far in what concerns the memorandum of understanding and let us somehow try to start from scratch. We managed to clearly identify and make the Chinese side understand what is possible, what is not possible, to try to make them better spell out what they want, so that we are now in the situation of finalizing the memorandum of understanding and we hope we will also have the investment agreement finalized by the end of the year, which means that this investment, which is essential for us, will take shape,” Andrei Gerea stated.

In October last year the construction of nuclear reactors 3 and 4 was estimated to cost EUR 6.45 bln, however the feasibility study on which that estimate was based will be revised.

China General Nuclear Power Corporation is the investor selected for the development of the project.

In her turn, Nuclearelectrica CEO Daniela Lulache stated that the project was re-launched in 2014 and that the timetable initially announced no longer applies, however a postponement is preferable as long as serious and robust development terms can be negotiated.

 

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