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© ICIS HEREN - Chinese company considers Romania nuclear project

2011-10-20

Romania`s Nuclearelectrica and China`s Nuclear Power Group have signed a confidentiality agreement regarding the construction of reactors 3 and 4 at Cernavodă, Romania`s sole nuclear power plant, the country`s Energy Ministry said on Wednesday (19th October). The two companies are investigating the types of investment necessary for the construction of the combined 1.4GW blocks. No further details were released by the Romanian government.
Earlier this year, Germany`s RWE, France`s GDF SUEZ, Czech incumbent ČEZ and Spain`s Iberdrola withdrew from the project, due for completion by 2017 (see EDEM 21 January 2011).
RWE, ČEZ and GDF SUEZ each held a 9.15% stake, while Iberdrola had a 6.2% interest. The withdrawal left Nuclearelectrica, sole stakeholder in EnergoNuclear, the consortium set up to oversee the management of the project, to shoulder the €4bn bill for construction of the 1.4GW units.
Subsequently, the Romanian government said it was looking to delay the completion date beyond 2017 as it considers new offers from potential investors in South Korea, China, Russia and the US (see EDEM 23 February 2011).
China Nuclear Power Engineering is a member of the China Guangdong Nuclear Power Group and specialises in domestic nuclear projects.
(THE ICIS HEREN REPORTS - EDEM 15202 / 20 October 2011)

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