July 23 (SeeNews) - Romania's prime minister Ludovic Orban said on Thursday that the government plans to invest up to 9 billion euro ($10.42 billion) in the modernisation of the Cernavoda nuclear power plant (NPP) unit 1 and the construction of units 3 and 4 by 2030.
"We have big plans for the nuclear power plant, our goal is to make investments of 8-9 billion euro in the overhaul of unit 1, as well as in the construction of units 3 and 4," Orban said during a visit at Nuclearelectrica [BSE:SNN], the operator of the country's sole NPP Cernavoda.
The government's objective is to complete the construction of units 3 and 4 by 2030, Orban added. The financing scheme for the project is still being drafted.
"We want to make these investments together with serious partners from the Euro-Atlantic area, who have the expertise and the necessary technology to support the implementation of these investments which are fundamental for Romania's economic development," Orban said.
In June, Nuclearelectrica said that its shareholders have decided to terminate all deals and negotiations with two Chinese companies for the construction of Units 3 and 4 at the plant, complying with an energy ministry request.
In May 2019, Nuclearelectrica signed a preliminary agreement with China General Nuclear Power Corporation (CGN) and CGN Central and Eastern Europe Investment (CEERI) to establish a joint project company for the construction of Units 3 and 4 at Cernavoda NPP. The business entity was supposed to be a joint stock company that will exist for at least two years, with CGN holding a stake of 51% and while Nuclearelectrica holding 49%.
The Cernavoda power plant, located in southeastern Romania, has two reactors of 700 megawatts each, which meet roughly a fifth of the country's electricity needs.
The energy ministry owns a 82.49% stake in Nuclearelectrica.
Nuclearelectrica shares traded 0.59% higher at 17 lei ($3.84/3.39 euro) by 1148 CET on Thursday on the BVB.
(1 euro = 4.8583 lei)