EC sets deadline for details on reactors 3 and 4

“The European Commission has sent us the main areas of interests related to the reactors 3 and 4 from Cernavoda. The European Commission has set a deadline for January to provide it with these details, and we have the obligation to respond to this request”, said Pompiliu Budulan.

He added that there were still several questions EC waits answers to, and that Nuclearelectrica, the company that holds 51% of EnergoNuclear (the joint company dedicated to the completion, commissioning and operation of Units 3 and 4), together with AECL (Atomic Energy of Canada Limited) are on track to respond to these requests.

A delegation that will include representatives of Directorate-General for Energy and Transport of European Commission will examine the construction plan of the two reactors at Cernavoda, Romania, and draw conclusions from its review. The members of the delegation will also examine the unit 1 and 2 of the sole nuclear power plant in Romania.

EC is interested in the stage of the construction works at reactors 3 and 4, financing sources as well as the disposal of the radioactive waste resulting from the operation of these reactors, and safety measures for workers against radioactive emissions.

For the time being, the construction of the 3 and 4 reactors is currently pre-project phase, which lasts 18 months and is expected to complete in September, 30 2010.

Nuclearelectrica and the six investors, ArcelorMittal, CEZ, GdF-Suez, Enel, Iberdrola and RWE Power signed on November 20, 2008 the Investment Agreement for the set up of a project company (to be called SC EnergoNuclear S.A) that will be in charge of the construction, commissioning and operation of Cernavoda Nuclear Power Plant’s units 3 and 4. Following the negotiations, it has been decided that the shareholding of the project company will be as follows: Nuclearelectrica – 51%, CEZ – 9.15%, GdF Suez – 9.15%, Enel – 9.15% RWE Power – 9.15% and Iberdrola and ArcelorMittal 6.2% each.

Units 3 and 4 will start operations later than 2016.

The estimated cost for the two reactors is €4 billion, and each unit will have an installed power of 720MW. The lifespan of a unit is 30 years, with the possibility of extending it to forty years. Units 3 and 4 from CNE Cernavoda will use CANDU 6 technology.

Talks with the six investors started in December, 4 2007.