Romania Econ Min Expects EU Answer On Nuke Construction By Fall

„We’ve sent the final documents to the Commission. In September, the project will enter the final straight before the finish line,” Videanu told MEDIAFAX.

The minister said Romania should reduce its stake in the company that will build the reactor in Cernavoda, as a „sign of trust” for investors.

Romania, through state-owned nuclear energy company Nuclearelectrica, controls 51% in EnergoNuclear, a joint venture set up to build the two new reactors, whose costs are seen around EUR4 billion.

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Czech CEZ, Italy’s Enel, German RWE and Belgian-French group GDF Suez each own 9.15% in the joint venture, while ArcelorMittal Romania and Spanish Iberdrola control 6.2% of its shares each.

Romania’s sole nuclear power plant in Cernavoda currently operates two reactors of 700 megawatts power each. The third and fourth reactors, with similar capabilities, are set to become operational in 2016 or 2017.

Videanu said Romania could transfer part of its shares in EnergoNuclear to the future national power holdings Electra and Hidroenergetica.