Construction of reactors three and four of the Cernavoda Nuclear Power Plant in Romania might begin in two years as the memorandum (a document which is the basis for a subsequent contract) with the Chinese investors might be signed this November.
Romanian Minister of energy noted, as Mediafax reports “It is a good thing that we have managed to come to an agreement and that we shall sign the memorandum. It is an incredibly big investment and it is hard to see such investments take place during this particular period. We had to cross some barriers, demands were great on both sides. We had barriers from EU legislation as well. The important thing is that we have managed to get past all of that this year.” Seven years ago Nuclearelectrica had six foreign investors who had expressed interest in building the two reactors whereas today it is only the Chinese company, China General Nuclear Power Corporation, that has wants to thusly invest. Currently, the Cernavoda Nuclear Plant has two functioning reactors which cover up to 20 percent of Romania's energy needs