Nuclearelectrica, operator of Romania’s sole nuclear power plant, in Cernavoda, is in talks with Chinese investors to develop a third and fourth nuclear reactor at the plant.
The company, 82.5% owned by the state, summoned a general shareholders meeting for August 22 to discuss the strategy of continuation for the project of Units 3 and 4 of Cernavoda, elaborated in 2014, and set the terms for negotiations on the set-up of a joint-venture with China General Nuclear, a joint-venture that would later merge with EnergoNuclear.
The development of two nuclear units has been on the table since 2003. Units 3 and 4 and the Cernavoda power plant have been in conservation since 1992.
EnergoNuclear was founded in 2009 for the same project and has public-private capital.
China General Nuclear Power Corporation was founded in 1994 and is the largest Chinese producer of nuclear energy, operating 11 reactors.
The procedure for the selection of the investors was launched in 2014 and China General Nuclear Power Corporation was declared the selected investor. Currently, the last stage of this selection procedure is under way, namely the negotiation with the CGN of the Investor Agreement and the Articles of Incorporation of the new project company.