Romania’s state-owned Nuclearelectrica picked China General Nuclear Power Holding Corp. (CGN) to help build two nuclear reactors in Romania.
CGN was picked to develop Cernavoda Nuclear Power Plant units 3 and 4. CGN was the only prospective investor to file an offer by the Sept. 8 deadline. The reactors are expected to cost 6 billion euros ($7.7 billion). The agreement includes forming a joint venture that would represent a company forerunning an independent energy producer.
Nuclearelectrica had planned to build the reactors along with six European energy firms, but the companies withdrew one at a time due to Europe’s debt crisis, according to Reuters. The company currently operates two, 706-MW CANDU reactors. The two planned reactors are expected to also be Candu Energy reactors.