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Romania's EnergoNuclear, Candu Energy sign deal for new units at Cernavoda NPP

Romania's EnergoNuclear, Candu Energy sign deal for new units at Cernavoda NPP Nuclearelectrica NPPs

BUCHAREST (Romania), November 26 (SeeNews) - Romanian company EnergoNuclear signed a contract with with Candu Energy, a member of Canada's SNC-Lavalin group, for the advancement of additional units at the Cernavoda plant, state-owned nuclear power plant (NPP) operator Nuclearelectrica [BSE:SNN] said.

Candu Energy will offer engineering services for the elaboration and updating of some documentations necessary to restart the Units 3 and 4 project, Nuclearelectrica said in a statement filed with the Bucharest Stock Exchange, BVB, on Thursday.

The strategy for additional units at NPP Cernavoda is being implemented in three stages. The preparatory stage started with the capitalisation and operationalisation of the project company Energonuclear and will have a duration of 24 months in which technical, legal, financial assistance and engineering services will be contracted.

The new CANDU units will indirectly generate up to 19,000 jobs, Nuclearelectrica CEO Cosmin Ghita said.

The CANDU units project is included in Romania’s energy strategy until 2030 with the perspective of 2050, as well as in the National Integrated Plan in energy and climate change, as a pillar of Romania's energy independence and reaching its decarbonisation targets as a EU member state, Nuclearelectrica said in the statement.

In August, Romania signed a Memorandum of Understanding with Canada to strengthen and further develop the cooperation in nuclear energy civil projects.

In June, Romania's parliament ratified an agreement with the U.S. government for the modernisation of the NPP's Unit 1 and the construction of Units 3 and 4. The $8 billion (6.7 billion euro) agreement was signed in October 2020 between Romanian and US authorities.

In June 2020, Nuclearelectrica said that its shareholders 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.

The Cernavoda power plant, located in southeastern Romania, operates 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 2.03% lower at 41.05 lei ($9.3/8.3 euro) by 1018 CET on the BVB.

(1 euro =4.9490 Romanian lei)