Chinese Company to Build Romania Nuclear Reactors

Monday, October 20, 2014

Nuclearelectrica, the company that runs Romania’s sole nuclear power plant, located in Cernavoda, has chosen China General Nuclear Power Corporation (CGN) as its investor for the development of two new nuclear reactors.

The project is worth of some 6.5 billion euro, according to company sources.

The Chinese company was the only bidder in the tender procedure organised by Nuclearelectrica.

Nuclearelectrica and CGN are also to sign an agreement to create a joint project company, in which the Chinese company is to hold at least 51 per cent of the shares.

In July, Romania also signed an agreement with Canada’s Candu Energy, which will supply nuclear energy equipment.

Two Canadian-designed nuclear units are already operating at Cernavoda. Together they supply around 20 per cent of Romania's electricity needs.

Construction of the long-delayed units 3 and 4 at Cernavoda was postponed in 2011 when some of the partner companies, including Germany’s RWE, France's GDF Suez and Spain’s Iberdrola, dropped out, citing economic uncertainties.

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