Authorities in Romania are set to sign cooperation and financing agreements with counterparts in the US for a €6.8 billion modernisation project of the Cernavoda nuclear power plant unit 1, as well as the construction of units 3 and 4, according to the US ambassador in Romania Adrian Zuckerman.
Cernavoda nuclear power plant, Romania
Cernavoda nuclear power plant, Romania
In a live-streamed session during the Aspen Institute's Bucharest Forum, Zuckerman said the project will be a "paradigm" for future cooperation between the two countries.
On Friday, Romania's energy minister Virgil Popescu is to meet with US Department of Energy secretary Dan Brouillette to sign a cooperation agreement.
Popescu will also meet with the president and chairwoman of Exim Bank, Kimberley Reed, to execute a memorandum of understanding for the financing of the Cernavoda nuclear project and other projects in Romania.
"The financing package is the largest financing package ever received by Romania to date and is indicative of the confidence that the United States has in its longstanding partner and ally. The United States – Romania bilateral relationship has never been stronger," said Zuckerman.
Located in southeastern Romania, the Cernavoda power plant is operated by majority state-owned Nuclearelectrica and consists of two 700 MW reactors, which equates to around 20% of the country's energy demand.
In July, Romanian Prime Minister Ludovic Orban announced that the government planned to invest up to €9 billion in the modernisation of the Cernavoda nuclear power plant unit 1 and would construct units 3 and 4 bu 2030.
In June, Nuclearelectrica shareholders voted to end all deals and negotiations with two Chinese energy companies for the construction of units 3 and 4 at the plant, in accordance with an energy ministry request.
In May 2019, a preliminary agreement was signed between Nuclearelectrica and China General Nuclear Power Corporation (CGN) and CGN Central and Eastern Europe Investment (CEERI) to establish a joint project company for the construction of Units 3 and 4 at Cernavoda NPP. The business entity was supposed to be a joint-stock company that will exist for at least two years, with CGN holding a stake of 51% and while Nuclearelectrica holding 49%.
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