EnergoNuclear, a subsidiary of Romanian nuclear utility SN Nuclearelectrica (SNN) signed the contract during a ceremony at the United Nations COP29 climate change conference in Baku, Azerbaijan. Also attending the ceremony were Romanian Minister of Energy Sebastian Burduja, US Secretary of Energy Jennifer Granholm, and officials from Environment & Climate Change Canada and the Italian government.
The EPCM contract, with an estimated duration of 108 months, is structured in two phases, a limited notice to proceed phase (24-30 months) and the final notice to proceed stage phase (80-84 months). The second phase will be subject to commercial terms being further refined and agreed and a final investment decision being taken in line with the support agreement between the Romanian State and Nuclearelectrica. SNN said that the estimated value of the EPCM contract, was about €3.2bn ($3.4bn). Canada’s government is providing export financing support of CAD3bn ($2.1bn).
The Cernavoda site houses two Candu 6 reactors (units 1&2) on a site originally constructed for five. Unit 1 went into commercial operation in 1996 and unit 2 in 2007. Construction of three more units began, but was stopped in 1990 when unit 3 was 52% complete and unit 4 30% complete. The two 720 MWe operating units provide about 20% of Romania’s power. Unit 2 holds the world record for highest capacity factor of any nuclear reactor globally. Romania is also preparing for the life extension of unit 1 to 60 years.
