“The construction of the Cernavoda NPP Units 3 and 4 is a very efficient project in terms of investment and it is also fairly priced. Romania has the advantage of a good logistic support and the experience achieved from the other two units from Cernavoda”, said MacDiarmid, the leader of a state-run Canadian company.

Though the investment for the completion of the Cernavoda nuclear power plant units 3 and 4 might seem too high, MacDiarmid says fuel savings for the country will be great.

“A hydrocarbon-based energy source means lower costs than a nuclear reactor. However, fuel costs at a hydrocarbon-based energy source accounts for 20% of its annual operating costs, while at a nuclear reactor, fuel costs account for only 6%”, MacDiarmid stressed.

As for the Cernavoda Nuclear Power Plant Units 3 and 4 project in Romania, AECL will undertake activities such as design, authorization and assessment of the existing infrastructure and safety conditions, for which the Canadian company will get €8 million on an annual basis.

“The contract is for one year, but we will provide consulting services after the contract expires if needed”, said MacDiarmid.

The Units 1 and 2 already in service provide 20 per cent of Romania’s electricity supply. Once complete, the Units 3 and 4 will increase the country’s nuclear energy capabilities and around 35-40% of the country’s energy supply will come from nuclear sources.

“I don’t know whether the share of 35-40% of nuclear energy in the country’s electricity supply can be deemed high, since in France for instance, nearly 70% of the national energy supply comes from nuclear sources”, AECL CEO added.

EnergoNuclear is owned 51 per cent by Romanian-utility Nuclearelectrica SA along with joint venture partners CEZ, GDF-Suez, Enel, RWE Power, Iberdrola and steel producer ArcelorMittal that hold 49%. The company was established in March 2009 to undertake the construction, commissioning and operation of two new reactors at the Cernavoda nuclear power plant in Romania.

AECL is a Canada-based company specialized in nuclear technology. The company cooperated with Nuclearelectrica for the second NPP unit, in 2007.