Nuclearelectrica and CGN signed the agreement for the establishment of the project company to build Units 3 and 4

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Nuclearelectrica signed on Wednesday with China General Nuclear Power Corporation and CGN Central and Eastern Europe Investment the agreement on the continuation of the Units 3 and 4 at the NPP Cernavoda.

The Investors’ preliminary form agreement was approved by SNN shareholders in the General Shareholders’ Meeting dated April 10, 2019. The CGN also finalized the process of internal approval of the agreement.

The preliminary forms agreement provides for the establishment of the project company JVCO, limited to being the only technical and operational platform for the further development of the project. The date for the establishment of JVCO is 60 working days from the date of signing the investors agreement in preliminary form.

JVCO is a joint stock company and will have an initial 2-year lifespan. CGN’s share in the project company will be of 51% and SN Nuclearelectrica’s, of 49%.

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