Cosmin Ghita, Nuclearelectrica: “The visit to Cernavoda of the president of Eximbank USA will lead to the realization of reactors 3 and 4”

Tuesday’s visit of the president of Eximbank USA, Kimberly Reed, to Cernavoda will materialize through options for the project of reactors 3 and 4, which Nuclearelectrica will submit to the approval of its shareholders as soon as possible, said Cosmin Ghita, CEO of SNN, in a press conference on the plant’s platform.

He recalled that at the beginning of October 2020, the Government of Romania and the United States signed an intergovernmental agreement on the development of cooperation in the nuclear industry. At the same time, a memorandum of understanding was signed with Eximbank USA on the development of reactors 3 and 4 and the refurbishment of reactor 1.

“Both projects are essential for the future of energy security. Today’s visit is another step in realizing this important collaboration. These are crucial objectives for Romania to reach the decarbonization and energy security targets,” Ghita said.

He pointed out that the refurbishment of reactor 1 allows the unit to operate for another 30 years, at half the cost of building a new reactor.

“Today’s discussions will take the form of project implementation options, which Nuclearelectrica will submit to its shareholders for approval as soon as possible,” the company’s general manager said.

Kimberly Reed, the president of Exim US, present at Cernavoda, showed that the institution she represents grants funding to projects according to certain standards and expects the Romanian side to apply for funding.

“We judge each application we receive based on its merits. We have some standards that we look at. We want to encourage projects like this. We are currently in negotiations, we are waiting for the application, which is now being drafted and many of its aspects are trade secrets and hopefully one day we will have a fabulous announcement that we will secure funding for this project,” Reed said.