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September 28, 2022

Eximbank USA President visits Cernavoda nuclear power plant

Nuclearlectrica’s Ghita: The visit will materialize in implementation options for reactors 3 and 4

The visit of Eximbank USA President Kimberly Reed to the Cernavoda nuclear power plant on Tuesday will materialize in project implementation options for reactors 3 and 4, which Nuclearelectrica will submit to its shareholders’ approval as soon as possible, Cosmin Ghita, CEO of the energy producer, told a press conference on the plant’s platform.

He recalled that at the beginning of October 2020, the Governments of Romania and the United States signed an intergovernmental agreement on the development of cooperation in the nuclear industry. At the same time, a memorandum of understanding was signed with Eximbank USA on the development of reactors 3 and 4 and reactor 1 retrofitting.

“Both projects are essential for the future of energy security. Today’s visit is another step in realizing this important collaboration. These are crucial objectives for Romania to achieve the goals of decarbonization and energy security,” Ghita said.

He pointed out that retrofitting reactor 1 would allow the unit to operate for another 30 years, at half the cost of building a new reactor.

“Today’s discussions will materialize in project implementation options, which Nuclearelectrica will submit to its shareholders for approval as soon as possible,” the company’ s general manager said.

In her turn, Exim US President Kimberly Reed (photo), present at Cernavoda, said that the institution she represents grants funding to projects according to certain standards and expects the Romanian side to apply for funding.

We assess every application we receive based on its merits. We have certain standards that we look at. We want to encourage projects like this. We are currently in negotiations, we are waiting for the application, which is now being drafted and many of its aspects are trade secrets and we hope to have a fabulous announcement one day that we will secure funding for this project, Reed said.

Asked by journalists about the interest and the payment method, she replied that each project is assessed individually, according to the specific standards.

Reed recalled that Exim US Bank had been closed for four years and was reopened last year.

“The Congress and the President of the United States have given us the significant goal to compete with China. And the ambassador explained so well why we should be concerned. We want the world to buy American products and services that are of the highest quality and we do not want countries not to follow the right paths with the risky financing that China can offer. When I talk about China, I mean the People’s Republic of China and the Communist Party, not the Chinese people”, she said.

Earlier, at the same press conference, US Ambassador in Bucharest Adrian Zuckerman said that Chinese communist companies such as Huawei or ZTE should not be tolerated in a state governed by the rule of law, as their purpose is to spy on and pose a threat to the security of the free world.

“It is a historic day for bilateral relations between the United States and Romania. This would not have happened without the involvement of Presidents Donald Trump and Klaus Iohannis and Prime Minister Ludovic Orban, through their visions on cooperation in the civilian nuclear sector, for the security of both nations. I especially want to thank Prime Minister Orban for his courage in breaking the agreement on the Cernavoda project with CGN, a corrupt Chinese communist company known for its corrupt practices around the world, the US diplomat said”, according to Agerpres.

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