“Due to uncertainties regarding the structure of the joint venture [set up to build the reactors] and the ability of the Romanian authorities to finance their part of the costs, the two reactors could be operational sometime after 2020,” the survey said.
Romania’s Economy Ministry controls 84.65% in EnergoNuclear, a joint venture set up to build the two new reactors in Cernavoda. ArcelorMittal Romania and Italy’s Enel own 9.15% and 6.2% in the joint venture, respectively.
The state plans to cut its stake in EnergoNuclear to around 40% and wants to attract new investors, after four of its initial six partners withdrew their funds, citing economic and market uncertainties.
The country organized two auctions this year to select new partners for the project, but with no results.
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 are estimated at EUR4 billion. The latest official forecasts put the completion date sometime in 2019.