At the request of the Romanian state as the main shareholder, the extraordinary shareholder meeting on February 12-13 at Nuclearelectrica (BVB: SNN) will vote on the final decision of the NuScale Small Modular Reactors (SMR) project, according to the company's note to investors. According to a very rough estimate circulated in late 2024, the project would cost USD 4.9 billion, and no update is available.

Energy minister Bogdan Ivan reaffirmed in December his support for the continuation of the SMR project in Doicesti. Following extensive discussions with the project company's shareholders, a solution was reportedly identified to fully finance the current stage of development.

The first small modular reactor could be operational in 2027-2028, the Romanian authorities promised.

The decision "represents a significant step forward in the completion of a strategic energy project for Romania," according to information sent by Nuclearelectrica, a shareholder of the project company. The Romanian state holds 82.5% in SNN.

SNN owns half of the project company from Doiceşti, RoPower Nuclear, along with the private company Nova Power&Gas, part of the E-INFRA group, Profit.ro reported.

The project consists of six small modular reactors (SMRs) in Doiceşti, using a technology from the American company NuScale, which totals an installed capacity of 462 MW.

The Ministry of Energy has estimated that the Doicești project will need a budget of EUR 4.9 billion. The estimate made by the project developer and the technology owner is preliminary, the ministry said, disclosing the value could be underestimated by up to -50% and or overestimated by up to 30%.

In November 2023, NuScale cancelled a similar 462 MWe project in the US. This came after the estimated investment costs for the CFPP were increased by more than 75%, from USD 5.3 billion to USD 9.3 billion.

iulian@romania-insider.com

(Photo source: Nuclearelectrica.ro)