Romanian PM Ponta says Chinese company interested in building nuclear reactors

By bne IntelliNews July 4, 2013

Romanian PM Victor Ponta, who is on a visit to China, said that Chinese investors identified 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.

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

Currently, Nuclearelectrica holds 84.65% in the project company after CEZ, GDF Suez, Iberdrola and RWE pulled out from the project in 2010-2011. Only Enel and ArcelorMittal remained Nuclearelectrica’s partners in the project company.

However, the Chinese investors insist on using different technology than the Cando technology used by Romania in the other two reactors. Guangdong Nuclear Power actually reached an advanced stage of negotiations, the daily reads – but some details on the technology used prevented a final agreement.


Related Articles

Turkey and Israel aim to ink natural gas pipeline deal by end-2017

Turkey’s Energy Minister Berat Albayrak, son-in-law of President Recep Tayyip Erdogan, is set to visit Israel by the end of this year to conclude an agreement to construct a natural gas pipeline ... more

Polish utility Tauron places €500mn eurobond issue

State-controlled Polish power firm Tauron has sold €500mn worth of eurobonds, the company said on July 5. Tauron needs capital to refinance the costs of construction and the purchasing of a ... more

Hungary signs deal to link to Russia's Turkish Stream gas pipeline

Budapest has signed a deal with Russia's Gazprom to link Hungary with the under-construction Turkish Stream ... more