Romania: 3 billion dollars from the US for the construction of two new reactors

The Romanian Energy Minister, Virgil Popescu, received today from the president of the US bank US Exim Bank, Reta Jo Lewis, the letters of intent for two loans, of 50 million dollars and 3 billion dollars, for the construction of two new reactors of the Cernavoda nuclear power plant. The ceremony, held on the sidelines of COP27 in Sharm El-Sheikh, was also attended by the Romanian president, Klaus Iohannis, and the special representative of the US president for climate, John Kerry. This was reported by the Romanian presidential administration in a statement. Two electricity production units are currently in operation in Cernavoda and Romania wants to build two more to increase its degree of energy independence. The Cernavoda nuclear power plant is managed by the National Nuclear Electric Company, controlled by the Romanian state through the Ministry of Energy.

In 2020, Romania and the United States signed a government-level agreement that allows Romania access to American nuclear technology, abandoning an initial plan to develop the new reactors through a partnership with China. The visit to the US in 2020 by the Minister of Economy and Energy, Virgil Popescu, led to the signing of the intergovernmental agreement on cooperation with US companies for the construction of reactors 3 and 4 in Cernavoda, as well as the restructuring of reactor 1 Minister Popescu announced that the agreement allows Romania access to the American Candu 6 technology and that the works will be carried out by a consortium of US, Canadian and French companies. The collaboration project was announced as early as August 20, 2019, when Presidents Klaus Iohannis and Donald Trump signed a Joint Declaration in Washington pledging to cooperate in the field of civil nuclear power.

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