Controversy related to Doiceşti SMR nuclear project in Romania continues
Nuclearelectrica (BVB: SNN) published on Friday, September 11, the report of the Prime Minister's Control Body (CCPM) on the Doiceşti small modular reactor (SMR) project. The publication was approved by shareholders at the extraordinary general meeting, at the request of the Ministry of Energy, the majority shareholder.
iulian ernst · Journalist
· 2 min read
The control took place between October 2025 and March 2026 and covered the period after March 2019. The main findings concern RoPower Nuclear, the project company owned in equal shares by SNN and Nova Power & Gas (NPG), a company in the E-Infra group, Ziarul Financiar reported.
The report touches upon two different aspects, namely the real estate deal by which RoPower Nuclear purchased the land from NPG (and NPG’s role in the project company), on the one hand, and the feasibility of the project, on the other. The latter aspect has acquired political ramifications, prompted by the interest of the US administration in promoting the project.
In Romania, the real estate dimension of the deal seems predominant. In June 2025, RoPower purchased the Doiceşti site from NPG for EUR 24 million, a price established on the basis of an evaluation report. On the same day, it signed a re-invoicing agreement for EUR 19 million excluding VAT, covering expenses incurred by NPG after the acquisition of the land.
According to the CCPM, the structure of the transaction “constituted an attempt to create the appearance that the acquisition of the site was a transaction that respected market rules”. The inspectors also noted that the agreement was not approved by RoPower’s board of directors, an aspect contested by SNN. Also, according to the report, the director of RoPower stated that the amount had not been paid.
In response to the CCPM report, Nova Power & Gas came up with clarifications, claiming that the deal was transparent and legitimate, according to Economica.net.
“The transaction between RoPower Nuclear and Nova Power & Gas, concluded on June 5, 2025, was carried out based on RoPower Nuclear's offer, at the price of EUR 24 million, the lowest of the available market valuations. The transaction can be reversed at the request of RoPower Nuclear, based on the three notifications sent by Nova, valid until October 1, 2026 inclusive,” the company explained, among other things.
