Romania's Nuclearelectrica to cooperate with Emirates Nuclear Energy Corp on new units

"Through cooperation between the two states we will succeed in ensuring energy security and independence," economy minister Virgil Popescu said in a social media post, without giving more details on the scope of the agreement.

The Cernavoda NPP, located in southeastern Romania, has two CANDU reactors of 700 megawatts each, whose output covers around a fifth of the country's electricity needs. Nuclearelectrica plans to double the plant's capacity by adding two units, scheduled to go live in 2030 and 2031, respectively.

In November, Romania's energy ministry said the United States has committed to provide $3.05 billion (2.84 billion euro) financing for the construction of the two units. In June, Romania's parliament ratified an agreement with the U.S. government for the modernisation of the power plant's Unit 1 and the construction of Units 3 and 4. The $8 billion agreement was signed in October 2020 between Romanian and U.S. authorities.

ENEC was established in 2009 and serves as the investment arm of the government of Abu Dhabi, making strategic investments in the nuclear sector, both domestically and internationally, according to its website.

(1 euro=1.07 U.S.dollars)