Chinese Corporation to Build Romanian Nuclear ReactorsSoutheast Europe | October 20, 2014, Monday // 14:45| views
A picture of Unit 1 of Romania's NPP in the Danube city of Cernavoda. Photo by www.cna.ca
China Cheneral Nuclear Power Corporation (CGN) has been selected as the investor to develop two 740-MW units at the Cernavoda NPP, the Romanian state-owned energy utility Nuclearelectrica has said.
Nuclearelectrica and CGN signed in November 2013 a letter of intent about the projects, but the Chinese entity is now the winner of the tender to construct units 3 and 4, after also being the single bidder, Romania Insider reports.
A joint venture is to be set up where CGN will be the majority shareholder.
Previous estimates had suggested the project would carry a price tag of EUR 6.5 B, but the last feasibility study is now expected to be reviewed. Initially it was expected construction would cost about EUR 4 B.
Negotiation and signing of a memorandum of understanding about the joint implementation of the project are the next steps to be expected.
The two Canadian CANDU-type, 700-MW reactors operating now at the Cernavoda NPP in the country's south-east account for nearly a fifth of Romania's annual electricity needs.
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