The current agreement, signed with ArcelorMittal Romania and Italy’s Enel, would have expired in January next year.
Romanian state-run power producer Nuclearelectrica owns 84.65% in EnergoNuclear, a joint venture set up to build the two new reactors in Cernavoda. ArcelorMittal and Enel own 9.15% and 6.2% in the joint venture, respectively.
The state plans to renegotiate the terms of its existing agreement with the two investors, Zaharescu said. In the absence of a favorable outcome, Nuclearelectrica may buy out the two investors and will continue the project alone.
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.
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.