Romania’s Nuclearelectrica to transfer EUR 160 mln for new nuke reactors

The management of state-controlled nuclear company Nuclearelectrica (BVB: SNN) summoned its shareholders to get permission for a large-sized loan (RON 814 million, EUR 160 million) to its subsidiary EnergoNuclear – which is developing the 3rd and 4th reactors of Romania’s sole nuclear plant.

The completion of the two new units at Cernavodă is expected for the beginning of the next decade.

The total costs of the project are estimated at more than USD 7 billion, according to an estimate carried out last summer.

The project is seen as a more predictable development compared to the small modular reactors (SMR) project developed in parallel with the US NuScale.

In a previous attempt, Nuclearelectrica’s management in April failed to get the state’s permission for a large-sized loan to its joint venture formed with a private partner for the development of the SMR project, as the government said that “a more calibrated and integrated vision” on the project is needed.

(Photo source: Nuclearelectrica.ro)