Romania hopes to ink major energy contracts as China’s PM Li Keqiang visits Bucharest

By bne IntelliNews November 22, 2013

Romania hopes to reach a number of concrete agreements on major energy projects with Chinese companies, including the 1.4GW expansion of the Cernavoda nuclear plant, the 1GW Tarnita pumped hydropower plant project and the development/upgrade of several thermal power plants, Adevarul daily comments.

China’s PM Li Keqiang will attend the China-Central and Eastern European Countries Summit that takes place in Romania’s capital Bucharest on November 26-29.

All these energy projects have been tackled in the past, including during the visit paid by Romanian PM Victor Ponta in China earlier this year. Energy minister Constantin Nita also visited China earlier in 2013 and outlined a list of seven major projects where Chinese companies are invited to invest.

PM Ponta has said that Chinese investors such as China Nuclear Electric [most likely China General Nuclear Power Group, formerly China Guangdong Nuclear Power Group] would be interested to take the major role in the development of the third and fourth reactors of Romania's sole nuclear plant located at Cernavoda, Hotnews announced in June.

Romania seeks investors to support the completion of the two nuclear reactors – partly developed already. State-controlled company Nuclearelectrica, which operates the nuclear plant, cannot finance the project alone. Completing the two new reactors would cost some EUR 4bn and the company can support only 40% of the project.

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