State-owned nuclear power producer Nuclearelectrica (ROSNN.BX), opens new tab said in 2021 it will partner with U.S. utility firm NuScale Power (SMR.N), opens new tab to build reactors as part of its efforts to boost low-emission power sources.
Romania is aiming to lower its carbon emissions to meet the EU's emissions reduction goals and to bolster energy security, a more urgent issue since Russia's invasion of Ukraine in February 2022.
NuScale aims to build SMRs in Romania, Poland and elsewhere in Europe, although it has terminated its SMR project in Utah in the U.S. late last year as it faced cost and subscription issues.
Burduja said the Romanian project could be up to a third cheaper then the Utah project based on NuScale estimates.
On Monday, U.S. Ambassador Kathleen Ann Kavalec said the Romanian project has financial support worth $4 billion from United States Exim Bank and the United States International Development Finance Corporation.
Nuclearelectrica chief executive Cosmin Ghita said prospective investors were also interested in providing equity for the project.
SMRs are meant to fit new applications such as replacing shut coal plants and are easier to scale than traditional reactors.
Romania uses a mix of gas, coal, hydro, nuclear and renewables for electricity generation and has committed to phasing out lignite - or brown coal – under its EU-funded recovery aid package.
