“We have discussed the possibility that the Chinese company could finance almost 40% of the investment in the nuclear reactors, namely the amount required for electric equipment, circuits, turbines and generators,” said Rodin Traicu, secretary of state with the ministry.
“This was a very important discussion and our overall sentiment regarding the project has improved considerably,” he told reporters.
The economy ministry controls 84.65% in EnergoNuclear, a joint venture set up to build the two new reactors in Cernavoda. 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 authorities said recently that they would like former partners CEZ, RWE, Iberdrola and GDF SUEZ to rejoin the nuclear project. Spanish utility Iberdrola has declined the offer, while Germany’s RWE said it would like more time to make a decision.
“We’re waiting for an answer from the other two companies,” Traicu said.
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.
Overall costs for the project were estimated at EUR4 billion. The latest official forecasts put the completion date sometime in 2019.