Romanian Econ Min: Nuclear Proj Not Dependent On Foreign Partners

Romania’s planned EUR4 billion nuclear project in Cernavoda will go on with or without new foreign partners, Economy Ministry Ion Ariton said Friday, a few weeks after three key investors have decided to withdraw from the project.

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Imaginea articolului Romanian Econ Min: Nuclear Proj Not Dependent On Foreign Partners

Romanian Econ Min: Nuclear Proj Not Dependent On Foreign Partners

"If no other companies join us, we can continue this project on our own, together with state-run companies such as Hidroelectrica, Transelectrica and so on," Ariton told reporters.

Romania, through state-owned nuclear energy company Nuclearelectrica, controls 60.1% in EnergoNuclear, a joint venture set up to build two new reactors at the country's sole nuclear power plant in Cernavoda.

Late January, French utility group GDF Suez, Germany's RWE and Spanish Iberdrola announced they will withdraw from the project, citing economic and market uncertainties.

Nuclearelectrica will pay around EUR4 million to the three companies for their stakes in EnergoNuclear. RWE and GDF SUEZ each own 9.15% in the joint venture, while Iberdrola holds a 6.2% stake.

Czech utility CEZ has already sold its 9.15% stake in the project to Nuclearelectrica.

According to ministry officials, Romania's remaining two partners in the nuclear project, namely Italy's Enel and ArcelorMittal Romania, could increase their participation in the joint venture, provided the government shows a strong commitment.

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