Minister says two new nuke reactors will cost Romania over EUR 6.5 bln

The two new reactors that state-controlled company Nuclearelectrica (BVB: SNN) wants to build at the Cernavoda plant are expected to cost at least EUR 6.5 billion (USD 7.3 billion), energy minister Sebastian Burduja said in an interview with Reuters quoted by G4media.ro.

Exim Bank US will provide a three-billion-dollar loan for the two new reactors, and the energy minister said there will also be financing from Canada and South Korea via similar mechanisms. Burduja also stated it was possible that other external partners, such as the United Arab Emirates, would finance the new reactor project.

Minister Burduja added that Nuclearelectrica is still negotiating with the Canadian group Lavalin, which owns the Candu technology used in the first two reactors of the Cernavoda plant, the objective being to sign an agreement at the end of the year.

Sebastian Burduja said that a final investment decision regarding the construction of new reactors would be adopted in 2026-2027.

Thanks to the new reactors, the share of atomic energy in Romania's energy mix will increase to a third and allow Romania to supply electricity to Moldova, the Romanian official said.

(Photo source: Nuclearelectrica.ro)