Prima pagină » English » Romania’s Nuclearelectrica, Investors In Nukes 3, 4 Proj Ink Deal

Romania’s Nuclearelectrica, Investors In Nukes 3, 4 Proj Ink Deal

Romania’s nuclear energy company Nuclearelectrica signed Thursday the deal with the six selected foreign investors to set up a joint venture that will build nuclear reactors 3 and 4 at the country’s sole nuclear power station Cernavoda.
Romania's Nuclearelectrica, Investors In Nukes 3, 4 Proj Ink Deal
20 nov. 2008, 11:27, English

The Romanian authorities selected six companies, namely ArcelorMittal’s Romanian unit (MS); Czech Cez AS (BAACEZ.PR); Belgium’s Electrabel; Italy’s Enel SpA (ENEL.MI); Spain’s Iberdola SA (IBDRY) and Germany’s RWE AG (RWE.XE) to participate in the joint venture that will construct the two nuclear reactors alongside with Nuclearelectrica.

Earlier this year, the government decided to increase the stake of the power station’s operator Nuclearelectrica in the project, after they had already agreed on the stakes, so that the state had to restart negotiations with the companies involved in the project. Following the Finance Ministry’s decision, Nuclearelectrica’s stake in the new joint venture hiked from 20% to 51%.

Thus, Nuclearelectrica owns a 51% stake in the project, followed by ArcelorMittal, with a 6.2% stake, CEZ – 9.15%, GDF Suez – 9.15%, Enel – 9.15%, Iberdrola – 6.2% and RWE Power, with a 9.15% stake.

Initially, the project was estimated at EUR2.2 billion, but was afterwards recalculated by the Romanian authorities to EUR4 billion.

The project is to be approved by the European Commission, according to the Euratom treaty.

The power plant in Cernavoda operated by Nuclearelectrica already has two reactors and provides around 18% of Romania’s power needs. The plant was initially designed to have five reactors, each with 700 megawatts.

The company plans to build other two similar reactors by 2015 in EUR4 billion investment.

The two nukes are scheduled to become operational by 2014-2015.