Romania receives USD 3 bln loan from the US for reactors 3 and 4 at Cernavodă


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President Klaus Iohannis on Wednesday, attended the event of handing over the two letters of intent regarding loans from the US Exim Bank for Units 3 and 4 of the Cernavodă Nuclear Power Plant, which took place on the sidelines of the 27th Conferences of the Parties to the United Nations Framework Convention on Climate Change (COP27), from Sharm El-Sheikh, in Egypt.

The special representative of the President of the United States of America for Climate, John Kerry, was also present at the ceremony.

The two letters of intent concern a first loan of around 50 million dollars, which will support the development of Phase Two, preliminary works, of the project of Units 3 and 4 and a subsequent loan, of 3 billion dollars, which will support Phase Three, of the actual construction of the project.

We need energy security, but energy security is only possible through energy availability and we, in Romania, have an ambition and this is important for Romanians, for the business environment and for the region because this is a new approach that will ensure us that we have enough energy, will demonstrate that we are energy independent and will show how to achieve the green transition because innovation and nuclear energy will make it possible to replace fossil fuels”, said President Iohannis.

“We cannot achieve zero climate neutrality by 2050 without nuclear energy being part of the energy mix,” John Kerry said in his turn. He stated that the project in Romania will double the energy production capacity from Cernavodă and will help reduce emissions.

The documents were handed over by the president of US Exim Bank, Reta Jo Lewis, to the Romanian Minister of Energy, Virgil Popescu. “It is a big step in terms of Romania’s independence in the energy field and I am sure that the new steps we will take together will increase the speed and we will complete our nuclear programs. We are engaged to carry out our program regarding the reactors”, said Minister Popescu.

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