Nuclearelectrica said in a statement to the Bucharest Stock Exchange Wednesday the investment fund has requested to discuss the postponing of the agreement with Chinese investors until the country has an energy strategy.
Romanian authorities have been working on a new strategy for the country’s energy sector for over two years, as the current one is obsolete. Energy Ministry officials said back in spring a new strategy could be drafted by September or October.
On Monday, Energy Minister Andrei Gerea told a news conference the memorandum with Chinese investors China General Nuclear for the construction of two nuclear reactors may be signed in November.
China General Nuclear and the Romanian government are in talks to develop the EUR6.4 billion investment in the nuclear power plant. The memorandum will be discussed by Nuclearelectrica shareholders on October 22.
“We have reached a deal and the memorandum will be signed. This is a major investment,” said Gerea.
The plant in Cernavoda, southeast Romania, currently operates two 700-megawatt reactors, which cover around 20% of the country’s energy consumption.