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Gheorghe Ciubotaru, Electroalfa
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Cernavoda nuclear project stakes decision delayed for 2011

The Romanian state will take a decision in 2011 on the make-up of the company set to construct two new nuclear reactors in Romania’s existing site in Cernavoda, Constanta county, Minister of Economy Ion Ariton told The Diplomat

November 2010 - From the Print Edition

This will further delay the development of the four billion Euro, 1,500 MW power plant development and is likely to contribute to pushing back its commissioning date of 2015 to 2017 at the earliest.
Currently the Romanian state has a participation of 51 per cent in the company EnergoNuclear (EN), but in May then-Economy Minister Adriean Videanu said the state would reduce its percentage to between 20 per cent and 34 per cent.
Since then one of the shareholders, the Czech Republic’s CEZ has put up for sale its 9.15 per cent stake, while the remaining partners include France’s GDF Suez, Italy’s Enel and Germany’s RWE (each with 9.15 per cent) and Spain’s Iberdrola and steel-maker ArcelorMittal (each with 6.2 per cent).
“The investors’ agreement was extended until the end of December,” says Ariton. “At the end of this period we will be able to announce the updated percentage of each investor, including the percentage of the Romanian state.”
The company will select a contractor in 2011 and the Ministry estimates the completion term of the project development for the Canadian CANDU reactors will take five years and ten months - pushing back the completion from its initial timeline of 2015 to a new date of 2017.



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