Romanian government report identifies irregularities in Nuclearelectrica's SMR project

Romania's government control body has identified a series of irregularities in the small modular reactor SMR project developed by state-controlled nuclear power producer Nuclearelectrica (BVB: SNN), including concerns over land acquisition, project governance, and the allocation of financial risks between partners.

The findings are contained in a report prepared by the control body of acting prime minister Ilie Bolojan. The report follows a shareholders' meeting at which the Ministry of Energy voted against a proposal by Nuclearelectrica's management to reassess the project's technical and financial viability. The decision came despite recent criticism from Ilie Bolojan regarding the project's feasibility and after the company's management acknowledged that key preconditions for taking the final investment decision (FID) had not been met by the end-June deadline.