Traicu didn’t name a potential investor for the EUR4 billion project. However, he said earlier this year that China Guangdong Nuclear Power Group could finance around 40% of the project, which entails the construction of two additional nuclear reactors at the Cernavoda power plant.
The economy ministry controls 84.65% in EnergoNuclear, a joint venture set up to build the two new reactors. ArcelorMittal Romania and Italy’s Enel own 9.15% and 6.2% in the joint venture, respectively.
The state plans to cut its stake in EnergoNuclear to around 40% and wants to attract new investors, after four of its initial six partners withdrew their funds, citing economic and market uncertainties.
Romania organized two auctions this year to select new partners for the project, but with no results.
“The situation has changed. Romania has transposed all relevant EU directives into its energy framework and now local investments are as predictable as any other investment elsewhere in Europe,” Traicu told Mediafax.
Cernavoda currently operates two reactors of 700 megawatts power each and covers around 18% of Romania’s electricity production. The two new reactors are expected to double the plant’s capacity.