Monday, March 24, 2008

Romania to build second nuclear plant

21st March 2008

Romania is planning to build a second nuclear power plant to meet rising demand and secure its energy independence, reports Thomson Financial.

Thomson Financial noted that the Cernovada nuclear plant supplies approximately 17% of Romania's electricity needs. The plant has two nuclear reactors in operation. With another two reactors expected to come on line in 2014-15, Romania is seeking participation in their construction with an international tender for around E2.2 billion, reported the news source.

Thomson Financial said that, in view of the project, Romanian state-owned nuclear power generator Nuclearelectrica, the operator of the Cernovada power station, has initiated a joint venture with Arcelor-Mittal, CEZ, Electrabel, Enel, Iberdrola and RWE. These investors will reportedly each pick up a 10-15% stake in the project.

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