Photo: Nuclearelectrica
Romania’s state-owned Nuclearelectrica approved the investment decision and a draft deal with contractors on the project for two new reactors in the country’s only nuclear power plant, Cernavodă, of 700 MW each. It scheduled an annual general meeting of shareholders for a vote.
The Board of Directors of Nuclearelectrica unanimously voted to proceed with the Cernavodă 3 and 4 project, Minister of Energy Sebastian Burduja said. Romania’s civil nuclear program is the chance for the security of energy supply at affordable prices and without carbon dioxide emissions, he pointed out.
Burduja said it means lower bills for citizens, competitiveness for domestic companies, job creation and development. The ministry reaffirmed its commitment to ensuring a balanced energy mix, to its decarbonization efforts and the push toward Romania’s energy independence.
“It is certainly the greatest achievement of my mandate as minister of energy: the dream of units 3 and 4 at Cernavodă is becoming a reality. After decades of waiting, we are putting this strategic project on a path of no return, and in 2031-2032 we will have two new nuclear reactors at Cernavodă,” Burduja stated.
According to the integrated National Energy and Climate Plan (INECP) 2025-2030, Romania wants the new reactors to have 700 MW of electricity generation capacity each.
Nuclearelectrica developing Cernavodă 3, 4 project via EnergoNuclear
The government-controlled company scheduled its annual general meeting for November 14. Shareholders will vote on the investment decision and the proposed contract for engineering, procurement and construction management (EPCM).
Nuclearelectrica is conducting the project through its fully-owned subsidiary EnergoNuclear. The contractor is FCSA, a consortium established by Fluor and Sargent and Lundy from the United States, Atkins Realis from Canada and Ansaldo Nucleare from Italy.
AtkinsRéalis, previously known as SNC-Lavalin, is acting through its subsidiary Candu Energy, which owns CANDU reactor technology license.
US, Canada, Italy commit overall EUR 6.1 billion in financing
The Export-Import Bank of the United States (Exim) is financing the project with USD 3 billion (EUR 2.78 billion at the current rate), the Ministry of Energy of Romania said. It added Canada would provide CAD 2 billion (EUR 1.33 billion) under an agreement signed in Ottawa and that Italy participates with EUR 2 billion, in accordance with a deal from February. The government in Bucharest is committed to supporting the strategic project with all the necessary resources, the statement reads.
Romania would guarantee for 100% of the loan package
Romania would guarantee for 100% of the loan package. In July this year, Nuclearelectrica obtained a positive opinion from the European Commission for the investment in the two new reactors.
Deal with contractors to be signed at COP29
The deal on the construction of Cernavodă 3 and 4 is scheduled for signing in Baku next month, on the sidelines of the 2024 United Nations Climate Change Conference COP29. The move means the transition to stage 2 – preliminary works.
The Romanian Cernavodă facility consists of two reactors, completed in 1996 and 2007. The country started the construction of units 3-5 in the 1980s as well, but two were suspended and the remaining one was canceled. Combined, units 1 and 2 operate at a maximum of 1.3 GW. Cernavodă-1 is planned for refurbishment by 2029, to extend its operation until 2060.
Fluor is also involved in the SMR project in Dâmboviţa
Through its 50% stake in project firm RoPower Nuclear, Nuclearelectrica is developing a small modular reactor (SMR) project of 462 MW. Nova Power and Gas, subsidiary of E-Infra from Cluj, owns the other half of the special purpose vehicle.
The location is northeast of Bucharest, near the village of Doicești in Dâmboviţa county, at a former coal power plant. Fluor was hired in July for phase 2 of the front-end engineering design (FEED), while its subsidiary NuScale is a subcontractor.
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