How much it costs to upgrade Cernavoda’s Unit 1?

The cost of Cernavoda Unit 1 upgrading, a project approved in September 2017, was estimated at EUR 1.2 billion – EUR 1.5 billion, this being the average of the budgets earmarked for the redevelopment projects related to CANDU 6 nuclear power plants, Cosmin Ghita, CEO Nuclearelectrica, stated on end-February in an interview within 7/24 Capital, a project signed by Bucharest Stock Exchange (BVB).

Asked whether there is a plan to revamp the reactor 1, Ghita confirmed, saying that this operation will extend the unit lifetime by 30 years.

”This perspective of prolonging the life of a reactor for a further 30 years with a double ascension return attracts many investors. According to the strategy adopted in the General Meeting of Shareholders, we plan to shutdown the unit during December 2026 – December 2028. Like any upgrading operation, it is planned for several years and has several stages. We are currently scheduled for the end of the first stage, which means feasibility study, initial planning and developing contacts and financing strategies,” Ghita said.

As for the funding sources for this project, Nuclearelectrica’s CEO said that different financing instruments, from lending to a bond issue, are considered.

Cosmin Ghita also referred to units 3 and 4 in Cernavoda, saying that the negotiations with Chinese partners are still ongoing.

”We operate under a negotiating mandate given by the Romanian Government and we advance in these discussions; as any negotiations that take place over a period of time, there are some divergences that need to be easily harmonized to achieve a situation of win-win for both parties,” Nuclearelectrica official also stated.

Robert Tudorache, Secretary of State in the Ministry of Energy, said on January 2018 that he sees 2020 as a realistic term for the Chinese investor to start the construction of reactors 3 and 4 from the Cernavoda NPP.

We remind you that Cernavoda NPP Unit 1 was reconnected to the National Power Grid during the the morning of 27 March 2018, following to reach full power during the evening of the same day. The decision to shut down Unit 1 for an approximate period of 48 hours was taken on a conservative basis during the morning of Marth 25th 2018 and was determined by the occurrence of a defect at one of the power plant’s process systems, which required the shut down of the Unit in order to carry out the repair works in compliance with the design requirements.

Then, Cernavoda NPP Unit 2 on March 30 was reconnected to the National Power System, after it was automatically disconnected from the grid during the morning of March 29, 2018, following the trip of the protection system related to a turbine generator switch (thus, the electric process system), in the classical part of the power plant.

Moreover, Prime Minister Viorica Dancila has requested the Government control body to conduct an investigation at the Cernavoda Nuclear Plant, following the breakdowns in the past few days.