Romanian Government adopted on Monday, at the proposal of the Ministry of Energy, the draft law on the approval of the signing of the Support Agreement between the Romanian State and the National Nuclear Electric Company for the project regarding Units 3 and 4 of the Cernavodă CPP, the ministry informs in a press release.
“It is a very important law, which I hope will be adopted as soon as possible by my colleagues in the Parliament, in order to move forward with the project of the new units in Cernavodă. Yes, Romania will become energy independent and, at the same time, we will ensure our energy security and reaching the decarbonization targets with the help of nuclear energy. Because decarbonization without nuclear energy cannot be done,” said the Minister of Energy, Virgil Popescu.
The draft normative act submits to the Parliament the approval of the signing of the Support Agreement between the Romanian state and Nuclearelectrica in relation to the project regarding Units 3 and 4 of the Cernavodă CPP. So that Unit 3 will enter operation at the end of 2030 and Unit 4, in 2031.
By carrying out the project, which is essential for Romania’s energy security and independence, the contribution of nuclear energy in the energy system will be doubled from approximately 20% to 36%, new jobs will be created in the nuclear sector, the supply chain will be developed, access to loans and financial support will be facilitated, revenues will increase to the local budgets in the development area of the Cernavodă CNE Units 3 and 4 Project, as well as to the state budget, as a result of investments and the establishment of new enterprises in research and innovation activities in the region.
Also, by making these investments, consumers’ access to electricity and thermal energy, the protection of vulnerable consumers and the reduction of energy poverty will be ensured. The project will contribute to ensuring a competitive energy market, increase the quality of education in the field of energy and continue the formation of well-trained human resources in the nuclear field.
The Romanian state, through the Ministry of Finance, will take the necessary steps to finance the construction of the two reactors, including but not limited to the granting of state guarantees to the project’s financiers.
“The Ministry of Energy is responsible for implementing the ‘Contracts for Difference’ (CfD) support mechanism and, at the same time, being responsible for making the Modernization Fund operational, supports the inclusion of nuclear energy in key investment programs and provides the necessary support for the use of the Modernization Fund with a view to the development, construction and commissioning of the Cernavodă NPP Units 3 and 4. Also, the Nuclear and Radioactive Waste Agency is responsible for the completion and operationalization, until the year 2030, of the Final Repository of Low and Environmentally Active Waste, namely the completion and operationalization, until 2050, of the geological repository for highly radioactive waste”, the press release states.