Minister Gerea: the construction of reactors 3 and 4 in Cernavoda could start in two years

The memorandum with the Chinese investors which is at the basis of the contract for the construction of reactors 3 and 4 in Cernavoda could be signed in November so that the construction of the two units start in two years’ time, according to the minister of energy Andrei Gerea.

‘It’s good that we managed to get to an agreement and we will sign this memorandum. It is an extraordinary investment and it is difficult to see such investments nowadays. We had to cross some barriers, the pretentions were big on both sides, barriers coming from the European legislation. What is important is that we surpassed them’ Gerea said, in a press conference.

He estimates that the construction works could start in two years’ time.

‘The investment part must be prepared, presented, we must ensure the frame to the commission, we must obtain agreement for the contracts of difference, it is extremely important’ Gerea said.

Seven years ago, Nuclearelectrica had six foreign investors interested to build reactors 3 and 4 from the Cernavoda power station. At present, a single company China General Nuclear Power Corporation has discussions with the minister of energy for the development of this investment, estimated at 6.4 billion euro.

The memorandum of agreement regarding the development, construction, operation and the decommissioning of unit 3 and 4 in CNE Cernavoda will be given in October for approval to the General Assembly of the Nuclearelectrica shareholders.

The power station in Cernavoda, operated by the state-run company Nuclearelectrica has two reactors working which cover 18-20% of the annual necessary of electricity at national level.

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