Romania has already invested over EUR 1 billion in the infrastructure and the technology for the reactors 3 and 4 of the Cernavoda power plant.

If the project is not finalized, the investments will turn into losses for the Romanian state, the Energy Ministry announced in a press release on Friday.

The statement came as a reply to investment fund Fondul Proprietatea, a minority stakeholder in Nuclearelectrica, which said on Thursday that the investment in the reactors was not feasible.

Fondul Proprietatea quoted an Energy Ministry representative who said that the energy produced by the new reactors should sell for around EUR 82 per MWh so that the investment in this project is recovered. At the moment, the price of electricity in Romania is around EUR 35 per MWh. This means that the state has to find a way to cover the difference.

The reactors 3 and 4 of the Cernavoda power plant will start operating in 2025-2030, according to local power producer Nuclearelectrica, which operates the Cernavoda power plant. The negotiations between the Romanian state and the company China General Nuclear Power Corporation on the construction of the reactors will continue until December 20. The project is estimated at some EUR 6.5 billion.

Romanian Prime Minister Dacian Ciolos and Chinese PM Li Keqiang met on Saturday in Riga and talked about the cooperation between the two countries in the energy sector.

editor@romania-insider.com

(photo source: Energie.gov.ro)