| © ICIS HEREN - CEZ abandons Romanian nuclear plans |
| 2010-09-22 |
| ČEZ is to pull out of a joint venture to build two units at Romania`s sole nuclear power plant to focus on Czech investments, the company confirmed on Wednesday (22nd September). The Czech utility will offload its 9.15% stake in EnergoNuclear, the consortium which was set up to build and operate reactors 3 and 4 at the Cernavodă plant. The two 1.4GW units are expected to become operational by 2017. The majority stakeholder is Nuclearelectrica, the state-owned operator of the existing two reactors. The consortium also includes Enel, GDF SUEZ and RWE Power, each holding a 9.15% stake, while Iberdrola and steel manufacturer ArcelorMittal both hold 6.2%. "The decision has been taken in line with a decision by the ČEZ Group to focus on investments in the Czech Republic and to develop its existing international portfolio," the company said in a statement released on Wednesday (22nd September). Earlier in July, ČEZ said it would abandon plans to build a 400MW gas-fired power plant in Galaţi after a feasibility study showed unreasonably high costs for the project (see EDEM 13 July 2010). ČEZ` Romanian portfolio still includes the Fântânele-Cogealac wind farm in the southern province of Dobrogea. When completed next year, the 600MW facility will be Europe`s largest onshore wind park. The company has already received permission from the Romanian regulatory office, ANRE, to connect 347.5MW of wind power to the grid (see EDEM 21 September 2010). (THE ICIS HEREN REPORTS - EDEM 14.183 / 22 September 2010) |
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