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April 11, 2021

Nuclearelectrica shareholders have approved to extend negotiations with the Chinese from CGN

The Nuclearelectrica shareholders have approved the extension of four months, starting on May 9, of the negotiations with the Chinese company China General Nuclear Power Corporation (CGN), for the construction of the reactors 3 and 4 at Cernavoda, at the Chinese partners’ request, according to some documents of the company.

The decision has been taken in the Extraordinary General Meeting of the Shareholders of July 18. Thus, the negotiation period has been extended until September 9.

The extension of the negotiations has already been approved by the Government on June 2, through a Memorandum of Understanding (MoU), entitled “Continuation of the negotiations on the Investment Documents regarding development, construction, operation and decommissioning of the Units 3 and 4 of Cernavoda NPP”, is said in an explanatory note, published on the Nuclearelectrica website.

At the same time, the extension of the negotiation period has been made “by observing all the other MoU provisions, including the possibility of either Party to terminate the MoU after the 4 months without compensation, by simply giving a written notice to the other Party, in case of failure of an agreement on the Investment Documents and if the delay wasn’t caused by that Party”, according to the mentioned document.

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