Nuclearelectrica welcomes the announcement made by Jonathan Wilkinson, Canada’s Minister of Energy and Natural Resources to support the development of Units 3 and 4 of the Cernavoda NPP with 3 billion Canadian dollars.
Bucharest, 20 September 2023
On Tuesday, September 19, 2023, Jonathan Wilkinson, Canada’s Minister of Energy and Natural Resources, together with Sebastian Burduja, Romania’s Minister of Energy, announced Canada’s decision to support the development of Units 3 and 4 of the Cernavoda NPP with 3 billion Canadian dollars. The announcement reconfirms the strategic partnership between Canada and Romania in the field of nuclear energy to achieve Romania’s climate and energy security objectives.
Today, Nuclearelectrica plays a major role at the national level by operating at the highest safety and performance standards Units 1 and 2 of the Cernavoda NPP, which contribute approximately 20% of Romania’s energy needs by providing clean, safe, stable and affordable energy.
By 2031/2032, Romania will add approx. 1400 MWe installed capacity by operating Units 3 and 4 at Cernavoda, in addition to extending the lifetime of Unit 1 for 30 years and maintaining the 700 MWe capacity by refurbishing Unit 1 by 2029. These strategic projects will be carried out in collaboration with traditional Canadian partners and with the support of the Export Bank of Canada (EDC) and will contribute to Romania’s energy security and decarbonisation targets. In addition, the projects will provide stable jobs for approximately 20,000 employees in Romania’s nuclear industry for the next 60-70 years and contribute to socio-economic development.
In addition, Romania will be able to support other countries in the region to achieve their energy independence and decarbonisation targets. With 27 years of experience in safe and efficient operation, Nuclearelectrica, through Cernavoda NPP, will strengthen Romania’s potential to become an energy hub in the region and will once again demonstrate Romania’s capacity and leadership in the nuclear field.
“Nuclearelectrica, through the development of the Romanian nuclear program, represents a strategic pillar for Romania’s energy security. We are proud and honoured to continue the strategic partnership we have had with Canada for over 55 years by operating the only CANDU technology plant in Europe, and one of the best performing in the world in terms of high capacity factor. Our civil nuclear projects are benchmarks for the nuclear power industry globally and a significant step towards a clean and sustainable energy future with nuclear reactors. This sustainable partnership can set an example for other countries that intend to develop an energy strategy using clean, resilient and affordable energy – nuclear power.” – Cosmin Ghiță, Director General Nuclearelectrica.
In August 2021, Romania signed a Memorandum of Understanding (MoU) with Canada to further strengthen and support cooperation in civil nuclear energy projects, following a 55-year relationship between Canada and Romania in the nuclear industry.
The Canadian Government’s interest in financing the C$3 billion Units 3 and 4 Project complements the interest expressed by the United States, through the US Exim Bank, in financing the technical services provided by the US for Nuclearelectrica Units 3 and 4: Funding up to $50 million from the US export contract for pre-project technical services as part of the Engineering Multiplier Program (EMP) and up to $3 billion from the US export contract for engineering and project management services for the contract to complete Units 3 and 4 of the Cernavoda nuclear power plant.
The national company “Nuclearelectrica” SA is the Romanian national electricity, heat and nuclear fuel company operating under the authority of the Ministry of Energy, with the Romanian state holding 82.49% of the shares and the other shareholders 17.50%, after the listing of the company on the stock exchange in 2013.
The Cernavoda Nuclear Power Plant (CNE) operates two CANDU nuclear units, which are two of the most efficient units among more than 400 nuclear power plants in the world, a nuclear fuel plant and is in the process of building an integrated fuel cycle through the acquisition of a uranium concentrate processing line to support the company’s long-term investment projects.
Nuclearelectrica’s investment projects are green investments and are aimed at energy security, energy independence and consumer protection. Nuclear power generation capacities are CO2 emission-free, available 24/7, have extremely low climate dependency 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 plays a major role in supporting the achievement of Romania’s objectives, while contributing to regional energy security by increasing Romania’s nuclear power generation capacity by 2030, through strategic investment projects estimated at over 12 billion euros: refurbishment of Unit 1, commissioning of Units 3 and 4, development of the small modular reactor 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.