Powering Romania’s Energy Transition | Editorial Series by The Diplomat-Bucharest
“Romania enters 2026–2030 timeframe with several real strengths: a relatively diversified power mix, high domestic gas production, sizeable gas storage, nuclear generation, hydropower, and potential to further develop regional connectivity. Certain challenges exist in terms of energy prices volatility especially at the Eastern border of the EU, absorption of NRRP funding and meeting decarbonization objectives especially in hard to abate industries,” Cosmin Ghita, CEO of Nuclearelectrica told The Diplomat-Bucharest.
“With the implementation of the gas project in the Black Sea and the nuclear agenda (refurbishment of Unit 1, Units 3 and 4, SMRs), I am confident that Romania has all the ingredients to ensure energy security at stable prices. Renewables coupled with energy storage will greatly contribute to decarbonization and resilience of the system.”
How do you evaluate Romania in terms of cost competitiveness versus productivity in the energy sector, amid rising EU carbon pricing?
Romania continues to maintain competitive advantages despite the increasing EU carbon pricing. Official data indicate that the productivity and economic outlook have improved in 2025. Government policy decisions have contributed to alleviating the budget deficit and setting the country on a growth pathway.
In the energy sector, Romania continues to be more carbon intensive than the EU average in terms of GHG emissions. This is mainly due to the energy mix in which fossil sources still play a significant role, so every increase in ETS prices impacts Romania more intensely than other economies. On the other hand, Romania is an important beneficiary of the Modernization Fund and the ETS revenues are invested in renewable energy capacities, area with significant development potential (projects already committed for solar, wind, energy storage, energy efficiency etc).
Romania has an ambitious decarbonization agenda as outlined in the National Energy and Climate Plan (85% reduction of GHG emissions by 2030 set as target). Decarbonization through the growing implementation of renewable and low-carbon energy sources, like nuclear, will contribute to stabilizing energy prices for final consumers and creation of new economic opportunities. The Commission estimates that, by 2040, over 90% of the electricity produced in the EU will come from decarbonized sources, primarily renewables and nuclear power, taking into account both the extension of the operational life of existing reactors and the construction of new large-scale reactors and the development of innovative nuclear technologies (such as SMRs).
Southeast Europe has many advantages in terms of the potential offered by the Black Sea, indigenous energy sources, skilled labour force and growing industrial sector. Interconnectivity at the EU level will need to be improved in order to better connect Romania to the rest of the EU in order to alleviate the impact of recent price spikes. Also, developing the potential of indigenous energy sources such as nuclear, gas, hydro will greatly contribute to the competitiveness of Romania in the region and to the energy security at large.
How could public authorities better support investors in energy projects?
Public authorities can improve support for investors in energy projects primarily by reducing regulatory risk, accelerating project timelines, and improving access to financing mechanisms.
In the current EU context, driven by geopolitical tensions, high energy prices, growing demand for electrification and industrial competitiveness, I would say that the following measures are important in the energy sector:
– long-term regulatory and policy stability and a wider inclusion of all low-carbon energy sources in EU policies
– faster and more predictable permitting for large scale projects, without affecting nuclear safety in our particular sector – for example for administrative processes (one stop shops, etc)
– equitable access to risk-sharing instruments and financial support in a blended private-public manner (for example, combination of EU grants, loan guarantees, including from the EIB). A more coordinated and synergetic view towards EU financing instruments available for certain phases of nuclear projects would be of interest – for example, the Innovation Fund includes innovative nuclear technologies such as SMRs and the IPCEI project on nuclear could be great opportunities to bridge the gap between R&D and market deployment.
– infrastructure planning and development – for example investments in grid development to integrate low-carbon energy, cross-boarder interconnections.
– electrification planning and creating the market for a stable demand of low-carbon energy sources
How confident are you about Romania’s energy security outlook for 2026–2030, given geopolitical disruptions?
Romania enters 2026–2030 timeframe with several real strengths: a relatively diversified power mix, high domestic gas production, sizeable gas storage, nuclear generation, hydropower, and potential to further develop regional connectivity. Certain challenges exist in terms of energy prices volatility especially at the Eastern border of the EU, absorption of NRRP funding and meeting decarbonization objectives especially in hard to abate industries.
With the implementation of the gas project in the Black Sea and the nuclear agenda (refurbishment of Unit 1, Units 3 and 4, SMRs), I am confident that Romania has all the ingredients to ensure energy security at stable prices. Renewables coupled with energy storage will greatly contribute to decarbonization and resilience of the system.
Clean energy projects have the potential to ensure a smooth and affordable transition, in a reasonable time frame. Financing instruments and regulatory stability need to be in place in order for projects to be delivered on time and on budget.
Where do you see the biggest growth opportunities in Romania’s energy mix during this period?
In line with the European Commission’s focus for the following period, electrification offers great opportunities to reduce our dependency on volatile sources and create a path for the economic development of clean industry. Nuclear power is an important component of this equation, since it delivers 24/7 baseload, clean electricity able to cover the needs of high energy intensive industries.
Therefore, I see great potential in the transition to nuclear intensive as already demonstrated by the Doicesti projects and other to follow, Unit 1, Units 3 and 4, and the further development of domestic production, interconnectivity, smart grids and AI growth needs.
For the nuclear sector, in addition to ongoing projects, we see great potential in further integrating the domestic fuel cycle. Apart from this, we are looking into applications such as medical isotope production.
The potential of the Black Sea in terms of renewable energy is still not fully explored, alongside pumped-hydro (Tarnita Lapustesti project) and modernization of the grids.
These projects can attract significant investments to Romania, as already demonstrated by our nuclear projects financed by different international and European partners, to the benefit of Romanian energy system and consumers.
What investment priorities will define your company’s roadmap in Romania’s energy sector over the next 3–5 years?
Nuclear projects are complex, rigorous endeavours whose development requires a lengthy cycle of preparation and execution. Nuclearelectrica has an investment portfolio estimated at 20 billion euros for the next decade.
The investment portfolio is designed and developed to cover three major areas:
Expanding and diversifying production capacity through the development of the Cernavodă NPP Units 3 and 4 Project (1,400 MW installed capacity) and the Small Modular Reactors (SMR) Project (462 MW installed capacity).
Strengthening the safety, reliability, and operational excellence of existing capacity through: the Cernavoda NPP Unit 1 Refurbishment Project, extending the operating life by an additional 30 years starting in 2030; Interim Spent Fuel Storage Facility (DICA); Emergency Response Center; Modernization and development of the nuclear fuel fabrication plant; Modernization, refurbishment, and development of the uranium concentrate processing plant; Digital transformation and resilience, and other significant planned investments.
Sustainability and innovation through the implementation of the Tritium Removal Facility (the first in Europe and the third globally) and the diversification of the product portfolio through the production of medical radioisotopes, with priority given to the medical sector in Romania.
What were your company’s most significant completed projects during 2024-2026?
The years 2024-2026 mark the continuation of Nuclearelectrica’s investment projects: the Refurbishment of Unit 1, the Units 3 and 4 Project, the SMR Project, the Tritium Removal Facility, and the Medical Isotopes Project, all of which are at various stages of development.
For the Unit 1 Refurbishment, SNN signed the EPC contract in 2025—a vital contract critical to the completion of this project. The contract consists of: the preparation of the detailed design and construction drawings, the procurement of equipment and materials, the execution of the refuelling and refurbishment works, as well as the construction of the infrastructure necessary for the Unit 1 retrofit project at the Cernavoda Nuclear Power Plant, and will therefore continue into 2026.
In September 2025, we began civil construction work and will continue these works this year as well. Unit 1 will be shut down for refurbishment at the end of 2027 for a period of two years.
For Units 3 and 4, we have signed the EPCM Contract (€3.2 billion), with an estimated duration of 108 months; it is structured in two phases, namely the LNTP phase (24–30 months) and, subsequently, subject to the finalization and agreement of commercial terms and the issuance of the Final Investment Decision in accordance with the Support Agreement between the Romanian state and SNN, the FNTP phase (80–84 months).
At the end of the LNTP phase, the project’s feasibility will be reassessed based on new technical and economic indicators, and the Final Investment Decision will be adopted, thereby allowing progression to Phase III—Construction (FNTP). The project also benefits from the support of the Romanian state through the Agreement between the state and SNN, with the state providing guarantees, financing mechanisms, a CfD, and an in-kind contribution of heavy water.
As part of the Small Modular Reactors Project, the FEED 1 and FEED 2 technical site studies have already been completed, which has provided additional data on the feasibility and economic viability of SMR technologies. Also, two IAEA assessment mission of the site unfolded during the period, with positive conclusions.
On February 12, 2026, SNN’s shareholders approved the Final Investment Decision. The investment decision represents, at this time, the most advanced initiative at the European level in the development of an SMR project and is based on a series of additional conditions intended to establish a solid framework of support and cooperation, at the level of partnerships and authorities, for the optimal development and implementation of the project.
Regarding the Tritium Removal Facility, Nuclearelectrica SA and Korea Hydro & Nuclear Power (KHNP) have begun work on Europe’s first tritium removal facility, located at the Cernavoda Nuclear Power Plant. This initiative marks a significant step forward in nuclear technology and environmental protection, in line with the European Union’s sustainability goals.
The tritium removal facility will eliminate tritium from the plant, leading to enhanced environmental protection, fully in line with the ESG goals of Nuclearelectrica and Europe. Using innovative Romanian technology developed by the National Research and Development Institute for Cryogenic and Isotopic Technologies – ICSI Rm. Vâlcea, CTRF will be the third in the world and the first in Europe, offering Romania the opportunity to become a European hub for the production and export of tritium—the candidate fuel for future fusion reactors. Romania also has the opportunity to develop its supply chain and become a hub for the development and export of Romanian technology and know-how, utilizing local industry and labour.
Together with Framatome, we have begun implementing the medical isotopes project, which includes the detailed design, procurement, installation, and commissioning of the irradiation system at Unit 2 of the Cernavodă nuclear power plant. The launch of a large-scale commercial irradiation service for medical isotopes is scheduled for 2028.
Based on Framatome’s patented technology, reliable, industrial-scale production of Lu-177—a medical isotope used for targeted cancer therapies—can be ensured. Currently, this technology is installed at Bruce Power in Canada and was installed during a planned reactor shutdown.