Romania: Financial mechanism for new NPP Cernavoda units under negotiation with China Nuclear Power Corp, other banks are welcomed

, SEE Energy News

Although the memorandum with China Nuclear Power General Corporation (CGN) to contruct two new reactors, Cernavoda 3 and 4 should have been signed since mid-December 2014, the government and Nuclearelectrica still negotiating with the Chinese on several important points – but no detail may not be offered until the end of the debates, said Daniela Lulache, general manager of Nuclearelectrica.

“We negotiate further. We hope to reach soon a common understanding on selected investor Memorandum ” , says CEO Nuclearelectrica.

So far, financing structure is still not defined, but engagement of other banks is feasible, institutions like Eximbank Romania and the Eximbank of China or other foreign sources, said Lulache.

“Definitely it will be a complex structure of financing. When talking about a complex project ofa few billion, we never imagined that one source of funding is possible. Certainly we have loans that we can draw from the market, we hope, in the best conditions, which may, if SGN will be our partner in China, but not necessarily with the support of the Chinese Eximbank and the Romanian one, that will be a funding structure certainly complex ” , said Lulache.

China Nuclear Power Corporation and General SN signed a letter to the assumed joint agreement for the construction of reactors 3 and 4 October 2014.