February 24 (SeeNews) - Nuclearelectrica [BSE:SNN], the operator of Romania's sole nuclear power plant (NPP) Cernavoda, aims to commission a third reactor by 2031, its CEO said on Wednesday.
"We expect the commissioning of Unit 3 to happen around 2030- 2031, which means that the actual construction works would start around 2024," Nuclearelectrica CEO Cosmin Ghita said during an online seminar organised by local economic newspaper Ziarul Financiar.
The company is close to completing the feasibility study for the project, and will submit it for approval to shareholders shortly.
According to Ghita, a fourth reactor is also planned, and the latest company estimations indicate a final cost of 7 billion euro ($8.51 billion) for the two new units.
In October, Romanian and US authorities signed cooperation and financing agreements for an $8 billion project for the modernisation of Unit 1 at Cernavoda NPP and the construction of Units 3 and 4.
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.
In June, 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.
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. 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 Nuclearelectrica having 49%.
Nuclearelectrica shares traded 0.89% lower at 22.2 lei ($5.54/4.55 euro) by 1044 CET on Wednesday on the Bucharest Stock Exchange.
(1 euro =4.8741 Romanian lei)
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