MoU between Nuclearelectrica Romania and the Italians from SACE and Ansaldo Nucleare for the development of the Cernavodă Nuclear Power Plant

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Rome, February 15, 2024# RBJ (Source Agerpres) – Nuclearelectrica has signed an MoU with SACE and Ansaldo Nucleare to advance the development and financing of the refurbishment of Units 1, 3 and 4 of the Cernavodă Nuclear Power Plant (CNE).

The memorandum was initialed on Thursday in Rome, in the presence of the Minister of Economy, Entrepreneurship and Tourism, Ştefan-Radu Oprea, and the Minister of Enterprise and Made in Italy, Adolfo Urso.

According to a Nuclearelectrica press release, sent to Agerpres, Ansaldo Nucleare representatives expressed their interest in formulating an offer for the provision of engineering and project management services, the acquisition, installation and commissioning of components and systems, mainly for the classic of the plant, necessary for the completion and commissioning of both the Unit 1 project and Units 3 and 4. At the same time, they confirmed their interest in submitting an offer regarding the provision of the mentioned services.

At the same time, those from SACE want to finance the two projects of SN Nuclearelectrica S.A. with up to two billion euros, in accordance with the company’s procedures, the conditions negotiated by the parties and the related approvals of the relevant Italian authorities.

“The refurbishment of Unit 1 of the Cernavodă Nuclear Power Plant and the completion of Units 3 and 4 will lead, after 2031, to the generation of approximately 66% of Romania’s clean energy, with a significant impact on decarbonisation by avoiding 15 million tons of CO2 per year. Given that nuclear energy is a source available 24/7, with a capacity factor of over 90%, Nuclearelectrica’s nuclear capacity expansion investments will bring great long-term benefits for energy security, reliability and social development economic value chain of Romania, from the growth of the Romanian supplier chain to the creation of jobs and a new generation of specialists in the nuclear field. Our partnership with Ansaldo Nucleare represents a long-term cooperation based on performance and professionalism, dating back since the start of commissioning of Unit 1. We therefore look forward to continuing this partnership for the new units. We very much appreciate SACE’s adherence to this Memorandum of Understanding and the level of trust given to the nuclear energy production capacities in Romania”, said Cosmin Ghiţă, general director of Nuclearelectrica.

The Unit 1 refurbishment project is in the second phase of implementation, which includes securing the financial resources for the realization of the project, preparing the execution of the activities identified and defined in phase I and obtaining all the necessary approvals and opinions for its implementation.

To date, a CAD 781 million engineering services contract has been signed with Candu Energy and Canadian Commercial Corporation (“CCC”) to supply reactor tooling and components. Currently, the procedure related to the Framework Agreement for project management services and technical assistance, necessary for the preparation and implementation of the Unit 1 Refurbishment Project at CNE Cernavodă, is in the process of being finalized.

Also, the project of Units 3 and 4 is in the first phase, which covers the operationalization of EnergoNuclear, the project company, the contracting of technical and legal assistance services and the contracting of engineering services to update the technical and nuclear security documentation necessary for the continuation of the project. EnergoNuclear was re-operationalized in September 2021, with technically critical positions filled, and an engineering services contract was concluded with Candu Energy regarding the re-evaluation of the structures, incorporating design improvements from a nuclear safety perspective.

Nuclearelectrica S.A. (SNN) is the national electricity, thermal and nuclear fuel company in Romania, which operates under the authority of the Ministry of Energy, the Romanian state holding 82.49% of the shares, and the other shareholders 17.50%, after listing on the Stock Exchange in 2013.

The Ansaldo Energia Group is an international leader in the field of electricity production and a key player in the energy transition. The company is controlled by CDP Equity, Gruppo Cassa Depositi e Prestiti. Ansaldo Energia can supply components (gas turbines, steam turbines, generators), turnkey installations and the most innovative support service solutions for the electricity generation market.

SACE is the export credit agency and insurance and financing group in Italy, directly controlled by the Ministry of Economy and Finance. With a portfolio of insured operations and guaranteed investments worth 164 billion euros, SACE, together with all its subsidiaries – SACE FCT, which operates in the factoring sector, SACE BT, specialized in loans, guarantees and insurance against damages to properties, and SACE SRV, specialized in data collection and information asset management – serves more than 40,000 companies, especially SMEs, supporting their growth in Italy and around 200 foreign markets.

 

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