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Nuclearelectrica hails Canada's support to finance development of Cernavoda NPP Units 3 and 4
Canada's decision to support the development of Units 3 and 4 of the Cernavoda Nuclear Power Plant (NPP) with 3 billion Canadian dollars reconfirms the strategic partnership between Canada and Romania in the area of nuclear energy, in order to achieve Romania's climate and energy security objectives, according to a press release Nuclearelectrica issued on Wednesday, told Agerpres.
"At present, Nuclearelectrica plays a major role at national level by operating at the highest safety and performance standards Units 1 and 2 of the Cernavoda NPP, which contribute approximately 20% of Romania's energy needs by providing clean, safe, stable and affordable energy. By 2031/2032, Romania will add about 1400 MWe of installed capacity by operating Units 3 and 4 at Cernavoda, in addition to extending the lifetime of Unit 1 for 30 years and maintaining the 700 MWe capacity by refurbishing Unit 1 by 2029. These strategic projects will be carried out in collaboration with traditional Canadian partners and with the support of the Export Development Canada (EDC) and will contribute to Romania's energy security and decarbonisation targets. In addition, the projects will provide stable jobs for approximately 20,000 employees in the nuclear industry in Romania for the next 60-70 years, also contributing to social-economic development," Nuclearelectrica representatives say.
In August 2021, Romania signed a Memorandum of Understanding with Canada to further strengthen and support cooperation in civil nuclear energy projects, following a 55-year relationship between Canada and Romania in the nuclear industry.
The Canadian Government's announced interest in funding the 3 billion Canadian dollars to Units 3 and 4 project complements the interest expressed by the United States of America, through the US Exim Bank, in funding US technical services for the same units.
Thus, there will be up to 50 million dollars from the US export contract for pre-project technical services as part of the Engineering Multiplier Program (EMP), and up to 3 billion dollars from the US export contract for engineering and project management services for the contract to complete Units 3 and 4 of the Cernavoda Nuclear Power Plant.
The Ministry of Energy announced on Tuesday the Canadian government's intention to make available 3 billion Canadian dollars to finance the new CANDU nuclear reactors at the Cernavoda plant.
"Today, in Ottawa, Sebastian Burduja, the Romanian Minister of Energy, and Jonathan Wilkinson, the Canadian Minister of Energy and Natural Resources, announced that Canada can provide up to 3 billion dollars to finance the development of nuclear projects by Nuclearelectrica, the operator of the Cernavoda Nuclear Power Plant, and Energonuclear, SNN's subsidiary for the development of the project. Romania will build two new CANDU (Canada deuterium uranium) nuclear reactors at Cernavoda (units 3 and 4). These will make a significant contribution to achieving our objectives of ensuring Romania's and Europe's energy security, with a major impact in reducing greenhouse gas emissions," a press release from the aforementioned institution reads.
