Societatea Nationala Nuclearelectrica S.A. (“SNN”) announces the completion of the first phase of the investors selection procedure in view of the continuation of the Project Cernavoda NPP Units 3 and 4 (“The Project”), procedure provided in the Strategy for the continuation of the Project, approved by the General Meeting of Shareholders on August 22, 2014.
As per the instructions regarding the investors qualification process, up to September 8th, 2014, 16:00 hours, the deadline of the first phase, SNN received the Qualification Documentation submitted by China General Nuclear Power Corporation.
Following the analysis performed by the Negotiation Commission, the Board of Directors of SNN and the Interministerial Commission, the company China General Nuclear Power Corporation was declared a Qualified Investor.
The Qualification Documentation is composed of:
– Letter of Expression of Interest;
– Identification documents of the Interested investor;
– Documents setting out the relevant experience of the Interested Investors (individual or in a consortium) regarding the use of nuclear technology, expertise and operating performance and experience related to the development and/or construction of new nuclear units. Taking into account the commitment undertaken by the owner of the CANDU nuclear technology and the Romanian state towards the European Commission, during the analysis of the Project on the basis of article 41 of the EURATOM Treaty, an important request to potential investors was to guarantee the level of nuclear safety committed by the owner of the CANDU 6 technology and the Romanian State during the process of obtaining the opinion of the European Commission;
– Documents setting out the financial capability of Interested Investors (individual or in a consortium) to ensure the necessary finances for the completion of the Project, both by equity contributions or borrowed financing sources.
“The Qualified Investor fully complies with the requirements provided in the qualification documentation from the point of view of the technical and nuclear safety standards and also from the point of view of financing capability for such a project, fact which is essential for the development of a new nuclear project. The Qualified Investor has operation expertise at a capacity factor which emphasizes performance in operation, construction and development of investment projects with a high level of complexity. In the nuclear field, “expertise” is a key concept for the development of a solid project, with performances similar to those of Cernavoda NPP Units 1 and 2. We have achieved a high standard of operation performance and we will maintain it for Units 3 and 4” – Daniela Lulache, CEO.
More information regarding the subsequent phases of the selection procedure may be found at
China General Nuclear Power Corporation (CGN) was established in 1994 and is, currently, the largest nuclear energy producer in China, with 11 units in operation at the end of August 2014, with an installed capacity of 11,620 MW, to which 15,000 MW will be added after the commissioning of 13 additional nuclear units which are, at present, under construction.
The number of nuclear units under construction place CGN on the first position worldwide in the top of construction and commissioning of new nuclear units.
CGN’s turnover at the end of 2013 is of 4,25 billion Euro and the net asset value is of 37,49 billion Euro.