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Romania: preliminary agreement with Chinese for NPP units

Deal concerns Cernavoda power plant development

09 May, 17:03
(ANSA) - BELGRADE, 09 MAG - Nuclearelectrica, the operator of the Romanian nuclear power plant Cernavoda, and two Chinese companies, China General Nuclear Power Corporation (CGN) and Central and Eastern Europe Investment (CEERI), have signed a preliminary investor agreement for two new reactors at the nuclear plant of Cernavoda yesterday.

The agreement envisages the creation of a project company (JVCO), controlled by Nuclearelectrica (49%) and CGN (51%), that will represent the platform for development of the project, Nuclearelectrica said in a press release. The preliminary agreement was approved by the shareholders of Nuclearelectrica shareholders in April.

The signing of the preliminary agreement "represents an essential stage" in the process of construction of the two new units, Units 3 and 4, launched in 2014, Nuclearelectrica noted. Yesterday's step is "the effective initiation of the concrete measures to continue and develop Cernavoda NPP Units 3 and 4," said Anton Anton, Romanian Minister of Energy.

Plans to expand the Cernavoda nuclear power plant have been under discussion for years, the specialized portal Bne Intellinews said, recalling that "various international investors including CEZ, GDF Suez and RWE" pulled out in the previous years. Expanding Cernavoda "will help the country reduce dependence on coal power," Bne Intellinews added. (ANSA).

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