Nuclearelectrica signs a Memorandum of Understanding with Energocom to develop long-term cooperation between the parties in the energy sector and to achieve common strategic objectives
Bucharest, 18 July 2023
Nuclearelectrica and Energocom, the energy supplier of Republic of Moldova, announce the signing of a Memorandum of Understanding (MoU) to develop long-term cooperation between the parties in the energy sector and to achieve common strategic objectives.
The objective of the MoU is to explore options to ensure the delivery of energy from Nuclearelectrica’s future production from the new capacities to enter into commercial operation, mainy Units 3 and 4 of Cernavoda NPP, as well as support for the development of human resource capabilities and skills in the field of nuclear energy.
“Units 3 and 4 of Cernavoda NPP will be a pillar for both Romania and Moldova’s energy sectors, as well as for the decarbonization of the countries. By putting into commercial operation two more CANDU reactors and the small modular reactors project, Nuclearelectrica can contribute with clean energy to Romania’s energy security, and simultaneously support the Republic of Moldova and other countries in the region.
In 2031, Romania will have an installed nuclear power capacity of 3262 MW, resulting from the operation of Units 1 and 2, the operation of Units 3 and 4 at Cernavoda and the operation of small modular reactors, which represents about 33% market share and about 66% of the total clean energy produced in Romania. Together with Energocom we can identify, early on, efficient support solutions with the common goal of reaching energy security, energy independence and consumer protection for Moldova as well. We are also proud to contribute to the development of human resources as development and innovation rely on highly qualified personnel.” Cosmin Ghita, Director General Nuclearelectrica
“Last year, in a complicated situation for the Republic of Moldova, Nuclearelectrica was a trusted partner that helped Energocom to secure the country with electricity. We aim to strengthen this partnership, to diversify energy sources and have stable energy sources. We are confident that the started projects will open new horizons of cooperation”, says Victor Bânzari, acting director of Energocom S.A.
Globally, nuclear energy covers 10% of total electricity needs and is estimated to increase to approximately 17% in IEA member states. In the European Union, including the UK, nuclear power generates 50% of the electricity without greenhouse gas emissions. Nuclear power has avoided 74 Gt of CO2 emissions over the last 50 years, according to a UNECE report.
Romania has set very ambitious decarbonisation targets: reducing GHG emissions by 55% by 2030; reducing import dependency from 20.85% to 17.8% by 2030; eliminating up to 4.59 GWe of coal-fired power by 2032 and replacing it with clean energy sources.
Nuclearelectrica’s investment projects are green investments and are aimed not only at reaching energy efficiency, but especially energy security, energy independence and consumer protection. Nuclear power generation capacities have no CO2 emissions, are available 24/7, have an extremely low dependence on climate and are safe. The operation of Units 1 and 2 has avoided the release of 205 million tonnes of CO2 since commissioning.
In this context, SN Nuclearelectrica SA has a major role in supporting the achievement of Romania’s objectives as well contributing to regional energy security by increasing Romania’s nuclear power generation capacity until 2030 through strategic investment projects estimated at more than 12 billion Euro: Unit 1 refurbishment, Units 3 and 4 commisioning, development of the small modular reactors project, in cooperation with the American company NuScale Power. Nuclearelectrica’s investment projects will contribute, with clean energy, to Romania’s energy security, socio-economic development, the development of the nuclear industry and the training of a new generation of engineers, as well as to neigbouing countries, including The Republic of Moldova, to reaching energy security and meetits decarbonation targets.
The National Company “Nuclearelectrica” SA is the national Romanian company which produces electricity, heat and nuclear fuel operating under the authority of the Romanian Ministry of Energy, with the Romanian state holding 82.49% of shares and other shareholders holding 17.50%, after the listing of the company at the stock exchange in 2013.
The NPP (CNE) Cernavoda branch operates two CANDU nuclear units, which are two of the most high-performance units among the more than 400 nuclear plants in the world, a nuclear fuel factory and is in the process of carrying out an integrated fuel cycle through the procurement of a uranium concentrate processing line, in order to support the long-term investment projects of the company.
Nuclearelectrica has a major role at the national level, contributing by more than 18% of the nuclear energy in the total energy production and by 33% in the total CO2-free energy production in Romania.
Energocom S.A. is a 100% state-owned company, created in 2004. We are gas and power trader and we are also responsible for gas storage. Since October 2022 we are member of Romanian gas and electricity market operator (OPCOM) and Romanian Commodities Exchange (BRM) energy commodity exchange platforms.
Over the years our company developed several branches of activity. During these difficult times and the energy crisis that the entire Europe is facing, we reinvented ourselves to be more efficient and productive to provide the best quality services to Moldovan citizens and companies.
Now Energocom is:
- securing gas and electricity supplies to Moldova in emergencies and crises
- centralised electricity supplier in Moldova
- aggregating renewable energy production in Moldova
- active user of gas pipeline infrastructure in Moldova, Romania, Ukraine, Bulgaria, and Greece
- active user of electricity network infrastructure in Moldova and Romania.