“USTDA is an ideal partner for Romania as it seeks cutting-edge civil nuclear energy technology for its future energy needs. Our assistance will build stronger ties between our respective industries and create new business opportunities for U.S. industry in an important market,” stated Todd Abrajano, USTDA’s Chief Operating Officer and Head of Agency.
The grant to be provided by USTDA will be used to fund the costs of technical assistance for identifying and assessing suitable sites for SMR, and a licensing roadmap for these.
US and Romania are committed to the development of nuclear energy. According to the 2020 Romanian Energy Strategy Project, the employment of small and modular nuclear reactors might be beneficial to increase energy capacities without CO2 emissions and sources of hydrogen production, after 2035. Therefore, SNN’s interest is to timely initiate the assessment of potential sites, others than Cernavoda area, through this USTDA non-refundable grant.
“In addition to the current development of reactors 3 and 4, SNN is also interested in assessing the development of Small Modular Reactors as a long-term solution to further develop the Romanian nuclear industry. We are interested in features like flexibility, modularity and higher efficiency that could provide advantages for both the energy system and businesses after 2035. The grant awarded by US TDA will allow us to further explore sitting and technology compatibility with the proper technical assistance and have this assessment process initiated in due time for further decision-making,” stated Cosmin Ghita, CEO of Nuclearelectrica.
Nuclearelectrica is 82.5% owned by the Romanian State, via the Ministry of Economy, Energy and Business Environment.
Nuclearelectrica has a market value of RON5.5 billion after its shares have been trading up 26.9% over the last year, amid deals worth RON687.3 million.