Candu ties up with Chinese firm to supply Romania with two nuclear reactors
Canada’s Candu Energy, a subsidiary of engineering giant SNC-Lavalin, has signed an agreement with China Nuclear Power Engineering Company (CNPEC) for the construction of two nuclear reactors in Cernavoda in Romania.
A letter of intent was also signed between Romania's state-owned nuclear energy operator Societatea Nationala Nuclearelectrica and CNPEC's parent company China General Nuclear power Group for the proposed investment.
Romanian vice-premier Liviu Dragnea said in June that the Industrial and Commercial Bank of China had agreed to finance the construction of the two nuclear reactors, estimated to cost around €6 billion. Under the agreement, Candu Energy will construct two additional nuclear reactors, Candu units 3 and 4, at the Cernavoda nuclear power plant, which already operates two Candu 6-type nuclear reactors. The two operating reactors account for about 20 per cent of Romania's energy supply.