Romania to conclude agreement with the U.S. on USD 8 bln investment project at Cernavoda Nuclear Power Plant

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Romania will sign an agreement with the U.S. regarding major investments at the Cernavoda Nuclear Power Plant, the American Ambassador in Bucharest, Adrian Zuckerman has announced while in Washington, D.C. with Romanian Defense Minister Ciuca and Economy Minister Popescu.
In July this year, PM Ludovic Orban announced the government’s plans to invest EUR 8-9 billion at Cernavoda nuclear power plant, both for the refurbishment of the Reactor 1 and also for building Reactors 3 and 4.
In June, Nuclearelectrica shareholders gave up the partnership with the Chinese investors, China General Nuclear Power Corporation for the project of Cernavoda Reactors 3 and 4.
 

“I am currently in Washington, D.C. with Defense Minister Ciuca and Economy Minister Popescu to further strengthen the bilateral bonds between our two countries. Minister of Defense Ciuca and Secretary of Defense Esper are meeting today to sign a bilateral Roadmap For Defense Cooperation Agreement for the years 2020 to 2030. This strategic defense agreement will further confirm the United States’ commitment to assist Romania defend itself against malign foreign powers and preserve its border integrity.

Tomorrow, Minister Popescu will meet with Department of Energy Secretary Brouillette to initial an Intergovernmental Cooperation Agreement for the refurbishment of one nuclear reactor and the building of two new reactors at the Cernavoda nuclear facility in Romania. This $8 billion project will be a paradigm for future Romanian- American economic and energy development projects.

Later in the day, Minister Popescu will meet with the President and Chairwoman of Exim Bank, Kimberley Reed, to execute a memorandum of understanding for the financing of the Cernavoda nuclear project and other projects in Romania. The financing package is the largest financing package ever received by Romania to date and is indicative of the confidence that the United States has in its longstanding partner and Ally. The United States – Romania bilateral relationship has never been stronger”, said ambassador Zuckerman in a speech delivered to the Aspen Institute Bucharest Forum on Friday.

Romanian Economy minister Virgil Popescu said in his turn that the Romania-U.S. strategic partnership on energy will be further enhanced by this visit. “The United States of America are already a strong investor in the Romanian economy, while the energy sector, which is strategically important for Romania is a field where I would like to see a higher American presence in Romania”, said the minister.

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