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April 11, 2021

Nuclearelectrica approves 166 mln euro worth of plan to expand Cernavoda used fuel storage capacity

The shareholders of National Company Nuclearelectrica approved in their July 18 sitting the expansion of the intermediary spent fuel storage facility, under a project worth 166 million euros (749 million lei) VAT included, company documents said.

Nuclearelectrica representatives said the project is necessary to extend the service life of Reactors 1 and 2, as well as for building Reactors 3 and 4 at the Cernavoda nuclear power plant.

“The development of the investment project represents a licensing requirement set by the National Commission for the Control of Nuclear Activities (CNCAN) under the plant’s operation license. This requirement stipulates the obligation to ensure dry storage capacities for spent fuel, under safe conditions for the operating personnel, the population and environment,” reads a Nuclearelectrica response to a query by the Energy Ministry that requested additional information on the subjects on the agenda of the July 18 Extraordinary General Meeting of the Shareholders.

The company’s Board of Directors proposed the shareholders two scenario variants for the project’s accomplishment. Depending on the technical parameters, the first variant would require an investment of 166 million euros (749 million lei) VAT included, the second would cost 195 million euros (881 million lei), VAT included.

Company representatives said the technical and economic analyzes show that the first scenario is technically and economically more advantageous and proposed the shareholders to approve it, stressing that the investment is expected to be carried out from own sources, phased over a period of 32 years until 2047.

The storage capacity is located about 700 meters away from Unit 1 of the Cernavoda nuclear power plant.

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