The project was initiated in the 1970s and the construction in only 2.8% completed.
Back in the 1970s, authorities estimated the reactor, which is a generation II + unit, would become functional in 2025. It is highly unlikely the European Union will ever authorize this project, considering that only generation III and IV systems are accepted, according to the explanatory note to a draft Government decision drawn up by the Economy Ministry.
According to the draft act, a feasibility study conducted in March shows that the nuke 5 project “is not opportune, necessary and economic.”
The construction of the Cernavoda nuclear power plant kicked off in the ’70s and was designed to have four reactors. The decision to build a fifth nuke was taken afterwards.
Reactor 1 became operative in 1996 and the second one in 2007. They are operated by state-run company Nuclearelectrica.
The construction of reactors 3 and 4 is scheduled for completion in 2019 and 2020. The project, valued at EUR4 billion, was initially scheduled to kick off in 2010, but was sidetracked due to lack of funds after four of the initial investors withdrew, citing economic and market uncertainties.
Enel and ArcelorMittal Romania are the two remaining associates in EnergoNuclear, a joint venture that is supposed to build the two new reactors. The Economy Ministry holds 84.65% in EnergoNuclear, while ArcelorMittal and 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.
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.