Nuclearelectrica plans to carry out an FID for Cernavoda in 2024: Corporate

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February 25, 2021

Cosmin Ghită, CEO of Romanian electricity company Nuclearelectrica, said a final investment decision for the Cernavoda nuclear power plant extension project is expected in 2024, with the commissioning of Unit 3 expected in the next 10 years. According to Agerpres, Ghită told a conference on February 23 that Nuclearelectrica will present a proposal to start the project at its next Annual General Meeting (AGM) of shareholders.

Cernavoda nuclear power plant (Image: Nuclearelectrica)

“We anticipate that the commissioning of Unit 3 will, depending on National Integrated Energy and Climate Plan (ENCP), around 2030-2031, which means a mobilization of the site around 2024 “, he would have declared.

Romania’s 2021-2030 ENCP is a ten-year integrated document mandated by the European Union to each of its member states to ensure that the EU meets its overall greenhouse gas emissions targets.

When asked about the total value of the two units, Ghită said he would not publicly state a figure until the AGM and that the 2012 feasibility study was being updated, but the previous estimate was of about 7 billion euros ($ 8.56 billion).

On October 26, 2020, Romania and France signed a declaration of intent for cooperation in the field of civilian nuclear power, which aims, among other things, to work “with strategic partners” to build units 3 and 4 of the plant. Cernavoda nuclear power plant and modernize Unit 1.

Earlier that same month, a draft intergovernmental agreement on cooperation to expand and modernize Romania’s nuclear program was signed between Romania and the United States. Areas of cooperation could include the completion of units 3 and 4 of Cernavoda and the renovation of unit 1. On the same day, the Romanian Ministry of Economy, Energy and Business Climate signed a memorandum of understanding. ‘agreement with the Export-Import Bank of the United States aimed at improving trade and economic opportunities between the two countries, particularly in the energy and infrastructure sectors.

Nuclearelectrica today announced that it recorded 2020 net profit of RON 684.7 million ($ 171.8 million), an increase of 27.8% year-on-year.

Research and writing by World Nuclear News



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