Romania’s acting prime minister Ilie Bolojan reiterated criticism of the small modular reactor (SMR) project developed by state-controlled nuclear energy producer Nuclearelectrica (BVB: SNN) with US-based NuScale Power, warning that the investment carries major financial and feasibility risks. 

Speaking in an interview for B1 TV, Bolojan said Romania, through Nuclearelectrica, had already spent more than USD 240 million on feasibility studies for a project based on technology that remains commercially untested.

According to the prime minister, the project could ultimately fail, leaving Romania with “an industrial site and a bunch of paperwork.”

Bolojan’s comments came after former Social Democratic Party's (PSD) energy minister Bogdan Ivan accused him of undermining Romania’s bilateral relations with the United States by publicly criticising the initiative. The acting prime minister rejected the accusation and argued that the concerns surrounding the project should be discussed openly, including with US partners.

Bolojan referred to the high estimated cost of the electricity to be generated by the future reactors, which he said exceeds current market prices according to the project’s own feasibility studies.

He also suggested that Romanian authorities had already informed the US Embassy in Bucharest about the risks associated with the project.

“Even if this was done, for example, with an American company, it seemed responsible to me that if you respect your partners, you should inform them,” Bolojan said.

“This project has some problems, it would be better to analyse it as carefully as possible, because if you raise it on the agenda at a certain level, knowing that it has serious feasibility problems, then it means that you do not respect your partner,” he added.

According to Bolojan, the US Embassy “has taken note” of the concerns raised.

Asked who bears responsibility for the situation, Bolojan pointed to Nuclearelectrica’s management.

“From my point of view, the management of Nuclearelectrica,” he said. “Because they had to ensure that the entire project and all the amounts allocated there had a result.”

Romania has promoted the NuScale SMR project as a flagship strategic partnership with the United States and a potential regional first mover in deploying small modular nuclear technology.

iulian@romania-insider.com

(Photo source: Gov.ro)