Canada to support the development of Units 3 and 4 of the Cernavoda NPP with 3 billion Canadian dollars.
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.
Nuclearelectrica plays a major role at the national level by operating Units 1 and 2 of the Cernavoda NPP, which represents approximately 20% of Romania’s energy needs.
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.