The memorandum sets the basis of the future cooperation between Nuclearelectrica and China General Nuclear Power Corporation for developing the project. The state is Nuclearelectrica’s sole stockholder, with an 82.4% stake. The Romanian Government approved the memorandum in September 2 session. The document will be made public on the company’s website on Monday, at 18.30.
“After both parties sign the memorandum, SNN and CGN will enter negotiations to initiate and complete the last stages of the strategy,” Nuclearelectrica’s general manager Daniela Lulache said in a report sent on the Bucharest Stock Exchange Friday.
In October 2014, Romania selected China General Nuclear Power Corporation for the construction of a third and fourth reactor.
The Chinese company, which was the only bidder, will be majority shareholder in the company to develop the investment, currently estimated at EUR6.5 billion.
The Cernavoda plant, the sole nuclear power facility in Romania, currently operates two 700-megawatt reactors, covering around 20% of the country’s energy consumption. The two new reactors are expected to double the plant’s capacity.
China General Nuclear Power Corporation was established in 1994 and is the largest Chinese nuclear power producer, operating 11 reactors with an installed capacity of 11,620 MW.
(English version by Manuela Panescu)