\n China General Nuclear Power Group, the country’s biggest nuclear power reactor operator, has signed a $7.7 billion agreement to set up two nuclear reactors in Romania.
\u3000\u3000
The memorandum of understanding, signed on Monday between CGN and Romanian state-owned nuclear company Nuclearelectrica SA, is for the unit 3 and 4 of the Cernavoda nuclear power plant in the European country. The agreement covers investment, funding, construction, operation and decommissioning, a CGN statement said.<\/p>\n
CGN will also form a joint venture with Nuclearelectrica, and the venture will be the only platform to work on the nuclear projects in Romania, according to the statement.<\/p>\n
Sources from CGN said the two reactors will be probably owned by the new venture, in which CGN is likely to hold a controlling stake of 51 percent and Nuclearelectrica the rest.<\/p>\n
The two reactors at the Cernavoda station, about 48 kilometers west of the Black Sea, will continue to use CANDU 6, a 700-megawatt heavy-water nuclear reactor model, developed by Canadian Candu Energy Inc, the same nuclear technology used in unit 1 and 2, which went into service in 1996 and 2007, respectively.<\/p>\n
Romania is looking to further develop its nuclear capability, which accounts for 18 percent of the country’s total power consumption.<\/p>\n
But the country failed to meet that target since 2010 when Czech power group CEZ, a major investor in the Cernavoda project, and other three companies withdrew due to the European debt crisis and poor market outlook, earlier reports said.<\/p>\n
CGN started to explore the nuclear market in Romania since then and signed a letter of intent to develop the Cernavoda project in 2013. CGN was selected as the only prospective investor for the project a year later.<\/p>\n
“We will move forward on the Romanian nuclear project step by step, together with our partners from Romania, Canada and other countries in Europe,” said He Yu, chairman of CGN.<\/p>\n
The accord came after CGN and French utility company Electricite de France SA inked an agreement to build three new reactors in the United Kingdom.<\/p>\n
Though Cernavoda unit 3 and 4 will not use China’s homegrown nuclear technology, and the project excludes exports of key components, CGN hopes to use it as a springboard to tap into other nuclear markets in Europe, experts said.\u3000(Source: chinadaily.com.cn )<\/p>\n","protected":false},"excerpt":{"rendered":"
China General Nuclear Power Group, the country’s biggest nuclear power reactor operator, has signed a $7.7 billion agreement to set up two nuclear reactors in Romania.\u3000\u3000The memorandum of understanding, signed on Monday between CGN and Romanian state-owned nuclear company Nuclearelectrica SA, is for the unit 3 and 4 of the Cernavoda nuclear power plant in […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-4551","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/4551"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=4551"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/4551\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=4551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=4551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=4551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}