RTPR in collaboration with A&O Shearman has assisted US EXIM in connection with a loan agreement for an amount of up to 57 million USD granted to EnergoNuclear, the project company for the development of Cernavoda Units 3 and 4. EnergoNuclear is fully controlled by Nuclearelectrica (SNN), which is part of the contract as guarantor.

The loan will be used to finance the project “Cernavoda CNE Units 3 and 4”, in particular for engineering and project management services. Units 3 and 4 will generate approximately 10 TWh/year, which will lead to a doubling of nuclear energy production, but also of CO2-free energy production.

The RTPR team was coordinated by Victor Padurari and Cosmin Tilea (Partners), and further included Bogdan Cordos (Partner), Andreea Nedeloiu (Counsel), Andreea Stoiciu and Ion Arhiliuc (Associates). The A&O Shearman team was coordinated by Gideon Wiginton (Partner).

“Our involvement in a project of such strategic magnitude demonstrates our team’s ability to contribute to the most sophisticated and complex financing mandates. It has been a real pleasure to join forces with our colleagues in A&O Shearman’s Washington office to provide comprehensive services for a lender of the calibre of US Exim, the main export credit agency of the United States. Congratulations to all parties involved in this project of significant importance for Romania’s energy future”, said Victor Padurari, Partner at RTPR.

“Undoubtedly, this transaction represents a positive signal for the Romanian energy industry, as it demonstrates the confidence of international investors in Nuclearelectrica’s ability to implement critical infrastructure projects. We are honoured by the trust placed in our team in this mandate, it was a privilege to work alongside outstanding professionals in a project of a technical complexity that derives from the regulatory aspects specific to the nuclear sector”, declared Cosmin Tilea, Partner at RTPR.