Romania's Parliament passed last week a law that ratifies the agreement between the Romanian and US governments for the expansion of the Cernavoda nuclear power plant.

The agreement signed in October 2020 provides that the US will help Romania build two new reactors at the Cernavoda plant and refurbish its first reactor, which is nearing the end of its projected operating period. The European Commission has also endorsed the agreement.

"I welcome and appreciate the efforts of all factors involved in the adoption of the draft law for the ratification of the agreement. From the operator's point of view, time is an important variable in carrying out projects, and our goal is to have Unit 3 connected to the grid in 2030 and Unit 4 in 2031," said Cosmin Ghita, CEO of Nuclearelectrica, the state-controlled company that operates the Cenravoda nuclear power plant.

"Romania will align itself with the states that heavily capitalize on domestic resources to ensure the transition, as well as the energy consumption at sustainable prices considering that, for example, based on the international studies, the cost of electricity resulting from the extension of the nuclear units' lifetime is the lowest of all sources and that of new nuclear projects is considered competitive," he added.

Based on the agreement, the US could provide both the contractor and the financing for the projects.

andrei@romania-insider.com

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