“The construction of the project will begin in 2011: acquisitions, engineering and construction”, said Dan Ionescu (photo).

Adrian Borotea, corporate affairs director of CEZ Romania, one of the joint venture partners, said the works for the nuclear power plant units 3 and 4 may begin as soon as spring next year.

“What we’re trying to do now is recoup the few-month delay that’s plagued the project caused by public tender procedures. Initially, these tenders were not included in our plans. And any delay means an increase in the project costs”, said Adrian Botea.

The construction works could last up to five-six months, and units 3 and 4 could start producing power as late as in 2016.

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.

Unlike the first two NPP units, where the costs were fully covered from public finances, the government preferred to resort to a mixed solution for the 3 and 4 units, that involved a group of private companies.

Following the December 4, 2007 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.

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.

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.