Business / Companies

Chinese, Romanian firms to extend nuclear power co-op

(Xinhua) Updated: 2014-04-26 16:37

BUCHAREST - China General Nuclear Power Corporation and Romanian energy producer Nuclearelectrica on Friday signed an additional act to extend the validity period of their cooperation intention letter for six months until December 31.

"The extension of the validity period for the Letter of Intent confirms China General Nuclear Power Corporation's interest in the Project for nuclear Units III and IV of Cernavoda nuke plant, but also the technical and economic feasibility of the project," Daniela Lulache, General Director of Nuclearelectrica, was quoted as saying by the official Agerpres news agency.

The two companies signed the letter of intent in November 2013, on the occasion of Chinese Premier Li Keqiang's visit to Bucharest. The document set down the framework for cooperation in regards to the project development.

According to the feasibility study done by Ernst & Young, the total investment costs amount to around 6.45 billion euros ($8.93 billion).

The planned two new reactors will have a total installed capacity of 1,400 MW.

Cernavoda Nuclear Power Plant is the only such center in Romania. At present, units I and II, completed in 1996 and 2007, respectively, together produce about 18 percent of electricity consumption in the country.

The nuclear reactors at Cernavoda use Canadian CANDU technology.

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