Bucharest, September 20, 2023 – Jonathan Wilkinson, Minister of Energy and Natural Resources of Canada, together with Sebastian Burduja, Minister of Energy of Romania, announced on Tuesday, September 19, 2023, Canada’s decision to support with 3 billion Canadian dollars the development of the project of Units 3 and 4 at CNE Cernavodă. 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.
Currently, Nuclearelectrica has a major role at the national level by operating Units 1 and 2 at CNE Cernavoda, which contribute approximately 20% of Romania’s energy needs.
At the level of 2031/2032, Romania will add approx. 1400 MWe installed capacity through the operation of Units 3 and 4 from Cernavoda, in addition to extending the life of Unit 1 for 30 years and maintaining the capacity of 700 MWe through the Re-Technology of Unit 1 in 2029. These strategic projects will be completed 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 the achievement of decarbonization targets. In addition, the projects will ensure stable jobs for approximately 20,000 employees in the nuclear industry in Romania for the next 60-70 years, also contributing to socio-economic development.
Additionally, Romania will be able to support other countries in the region to achieve their goals of energy independence and decarbonization. With 27 years of experience in safe and efficient operation, Nuclearelectrica, through CNE Cernavoda, will strengthen Romania’s potential to become an energy hub in the region and will once again demonstrate Romania’s capacity and leading position 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 honored to continue the strategic partnership we have had with Canada for over 55 years by operating the only plant with CANDU technology in Europe, and one of the most 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 be an example for other countries that intend to develop an energy strategy using clean, resilient and affordable energy – nuclear energy.” – Cosmin Ghiță, General Manager of Nuclearelectrica.
In August 2021, Romania signed a Memorandum of Understanding (MoU) with Canada to strengthen and further support cooperation in civil nuclear energy projects, following a 55-year relationship between Canada and Romania in the nuclear industry.
The interest in financing the Project of Units 3 and 4 in the amount of 3 billion Canadian dollars announced by the Canadian Government complements the interest expressed by the United States, through the US Exim Bank, to finance the technical services provided by the USA for Units 3 and 4 of Nuclearelectrica: financing up to up to $50 million in US export contracts for pre-project technical services as part of the Engineering Multiplier Program (EMP) and up to $3 billion in US export contracts for engineering and project management services for the contract completion of Units 3 and 4 of the Cernavoda nuclear power plant.
Compania Națională “Nuclearelectrica” SA is the Romanian national company producing electricity, thermal energy and nuclear fuel that operates under the authority of the Ministry of Energy, the Romanian state owning 82.49% of the shares, and the other shareholders 17.50%, after the listing of the company on the stock exchange in 2013.
CNE Branch (CNE) Cernavoda operates two CANDU nuclear units, which are two of the best performing units among the more than 400 nuclear power plants in the world, a nuclear fuel plant and is in the process of realizing an integrated fuel cycle through the acquisition a uranium concentrate processing line, in order to support the company’s long-term investment projects.
Nuclearelectrica’s investment projects are green investments and aim at energy security, energy independence and consumer protection. Nuclear power generation capacities have no CO2 emissions, are available 24/7, have extremely low dependence on the climate factor 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, while also contributing to regional energy security by increasing Romania’s nuclear energy production capacity until 2030, through strategic investment projects estimated at over 12 billion euros: re-engineering of Unit 1, commissioning of Units 3 and 4, development of the project of small modular reactors, in cooperation with the American company NuScale Power. Nuclearelectrica’s investment projects will contribute, with clean energy, to Romania’s energy security, to socio-economic development, to the development of the nuclear industry and to the training of a new generation of engineers.
