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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

The Capital Markets News section is sponsored by the Bucharest Stock Exchange 

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Parliament passes Romania-US agreement for nuclear power plant expansion

Romania's Parliament passed last week a law that ratifies the agreement between the Romanian and US governments for the expansion of the Cernavoda nuclear power plant.

The agreement signed in October 2020 provides that the US will help Romania build two new reactors at the Cernavoda plant and refurbish its first reactor, which is nearing the end of its projected operating period. The European Commission has also endorsed the agreement.

"I welcome and appreciate the efforts of all factors involved in the adoption of the draft law for the ratification of the agreement. From the operator's point of view, time is an important variable in carrying out projects, and our goal is to have Unit 3 connected to the grid in 2030 and Unit 4 in 2031," said Cosmin Ghita, CEO of Nuclearelectrica, the state-controlled company that operates the Cenravoda nuclear power plant.

"Romania will align itself with the states that heavily capitalize on domestic resources to ensure the transition, as well as the energy consumption at sustainable prices considering that, for example, based on the international studies, the cost of electricity resulting from the extension of the nuclear units' lifetime is the lowest of all sources and that of new nuclear projects is considered competitive," he added.

Based on the agreement, the US could provide both the contractor and the financing for the projects.

andrei@romania-insider.com

(Photo source: Adrea/Dreamstime.com)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

The Capital Markets News section is sponsored by the Bucharest Stock Exchange 

BVB

 

Parliament passes Romania-US agreement for nuclear power plant expansion

Romania's Parliament passed last week a law that ratifies the agreement between the Romanian and US governments for the expansion of the Cernavoda nuclear power plant.

The agreement signed in October 2020 provides that the US will help Romania build two new reactors at the Cernavoda plant and refurbish its first reactor, which is nearing the end of its projected operating period. The European Commission has also endorsed the agreement.

"I welcome and appreciate the efforts of all factors involved in the adoption of the draft law for the ratification of the agreement. From the operator's point of view, time is an important variable in carrying out projects, and our goal is to have Unit 3 connected to the grid in 2030 and Unit 4 in 2031," said Cosmin Ghita, CEO of Nuclearelectrica, the state-controlled company that operates the Cenravoda nuclear power plant.

"Romania will align itself with the states that heavily capitalize on domestic resources to ensure the transition, as well as the energy consumption at sustainable prices considering that, for example, based on the international studies, the cost of electricity resulting from the extension of the nuclear units' lifetime is the lowest of all sources and that of new nuclear projects is considered competitive," he added.

Based on the agreement, the US could provide both the contractor and the financing for the projects.

andrei@romania-insider.com

(Photo source: Adrea/Dreamstime.com)

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