Investments in CNE Cernavoda units 3 and 4 might turn into a Chinese saga

The investment agreement with the Chinese company China General Nuclear Power Corporation, the investor selected for the development of units 3 and 4 at CNE Cernavoda, could be finalized by the end of the year says Energy Minister Andrei Gerea .Nuclearelectrica and China General Nuclear Power Corporation signed last year a letter of intent to proceed. 

The project for units 3 and 4 was evaluated in October last year, to EUR 6.45 billion, but the feasibility study which determined the investment required will be reviewed, according to Agerpres. The agreement between the two companies should have been signed in December last year, but the project is out of the schedule originally announced. 

Andrei Gerea said that they decided to put aside all the debates regarding the memorandum of understanding on joint implementation of the project and to take it from the beginning. „“It is well-known that it is not easy to negotiate with Chinese companies. This year we managed to do an important thing. We said let us erase all that we have discussed so far in what concerns the memorandum of understanding and let us somehow try to start from scratch” stated Gerea.