Government approves Resolution on issuing environment agreement for Cernavoda Units 3 and 4

The Government approved a Resolution on issuing the environment agreement for the project ‘The continuation of the construction and completion works on Units 3 and 4 of C.N.E. Cernavoda.’

‘The Resolution adopted by the Government specifies the main elements of the environment aspects in relation with the necessary measures and conditions for the accomplishment of the project and later, during the functioning of the new facilities. The document underscores the measures devoted to the improvement of the response of the nuclear power plant in case of severe accident, measures resulted following ‘Stress test’-type evaluations requested by the European Council and the European Commission for all nuclear power plants in the EU after the accident of Fukushima,’ a Government release shows.

At the end of August, Nuclearelectrica announced it would renegotiate with Enel Italian company and with ArcelorMittal Galati the investment agreement for the accomplishment of reactors 3 and 4 of Cernavoda, according to a decision of Nuclearelectrica Extraordinary General Meeting of Shareholders, approved in the meeting of August 22.

The renegotiation is necessary for the signing of an annex, the sixth, to the investment agreement.

‘The committee’s report on the renegotiation results, as well as Annex No 6 to the Investment Agreement for the project Units 3 and 4 of CNE Cernavoda will be submitted for approval to the Energy Department leadership,’ the Extraordinary General Meeting of Shareholders decision also reads.

Enel and ArcelorMittal are the only private companies left in the project with Nuclearelectrica, the rest of the partners having withdrawn in the period 2010-2011. It is about RWE, CEZ, Iberdrola and GDF Suez.

Over the past two years, companies of China and South Korea showed their interest in joining the project, but, for now, none of these intentions materialised.

According to the latest feasibility study, carried out by Ernst&Young last year, the total value of the project for reactors 3 and 4 amounts to 6.45 billion euros.

At Cernavoda, two nuclear reactors are currently functional, ensuring about 20 percent of the energy generated nationwide. The electricity of Cernavoda is the second cheapest nationwide, after that produced by Hidroelectrica.

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