CGN will build two new nuclear reactors for Romania

Romanian nuclear power operator Nuclearelectrica and China General Nuclear Power (CGN), controlled by the Ministry of National Energy, officially signed a preliminary agreement
on May 8 for the construction and operation of two new nuclear reactors at the Cernavoda nuclear power plant.

Plans to expand the Cernavoda nuclear power plant have been discussed for years, with several international investors including CEZ, GDF Suez and RWE participating in the bid
.

In 2015, the state nuclear power company Nuclearelectrica and CGN signed a memorandum of understanding
on the construction of two nuclear reactors at the Cernavoda nuclear power plant.

The expansion of the power plant, which currently houses two Candu-6 reactors and supplies about 15 percent of Romania's energy, will help the country reduce its reliance
on coal power.

Romania is one of
several countries in Central and Eastern Europe that want to increase nuclear capabilities to improve energy security.
Supported by this trend, Russia's nuclear power exports are booming
.
However, unlike Belarus and Hungary, which are making similar investments, Bucharest has often strained relations with Moscow, and they want China to carry out the project
.

According to the preliminary investor agreement signed by the Ministry of Energy and CGNPC, the two parties will establish a joint venture company as the technical and operational platform for the expansion project for a period of 60 working days
.
CGN's share of the project companies will be 51 percent, while Nuclearelectrica will hold the remaining 49 percent
.

"Romania has obtained an agreement from the European Commission on the implementation of contracts for difference (CfD), which is a new form," explained Energy Minister Anton Anton.

They represent a new form of subsidies designed to encourage capital and investors
in the energy sector.
”