The phased development of the Doicești SMR project fully complies with the specific stages of a nuclear project, being independently validated through assessments by the International Atomic Energy Agency (IAEA) and aligned with all norms and standards in the nuclear industry, SN Nuclearelectrica announced on Thursday.
“In Romania, the Doicești SMR Project was developed entirely based on the decisions of its shareholders and in compliance with these decisions (public information through the status of a listed company), being a nuclear project that is part of the new nuclear technological developments at international and European level, based on the only certified technology and rigorously analyzed by Romanian experts prior to selection. The preliminary studies carried out to date have indicated that the geotechnical structure of the Doicești site is suitable for the development of the SMR project, which represents a critical aspect in the continued implementation of the project in accordance with the strategy approved by the shareholders, especially since the SNN shareholders approved the Final Investment Decision in February 2026,” it is mentioned in a press release from Nuclearelectrica, which comes with a series of clarifications regarding the development of this project.
Regarding the preliminary studies (which unequivocally demonstrated that the Doicești site is suitable for the development of the SMR project), Nuclearelectrica mentions that the studies regarding the selection of the Doicești site were carried out by renowned international companies and took into account the international regulations in the field, namely “IAEA – SSR 1, Site Assessment for Nuclear Facilities, SSG-35, Site Study and Site Selection for Nuclear Facilities, NS-G-3.6 Geotechnical Aspects of Site Assessment and Foundations for Nuclear Power Plants”, all of which were developed and recommended by the IAEA.
“The next step is the detailed analyses that will lead to the site authorization, in accordance with the work stages. In 2023 and 2024, the initial stages of technical analyses FEED 1 and FEED 2, mandatory in a nuclear project, were completed, when independent IAEA missions were carried out on the selected site, the conclusions of which confirmed the steps taken and led to the implementation of additional measures. The FEED 2 objectives, practically the data that determined the decision to obtain FID, were completed according to schedule and at a reduced budget compared to the estimated one, cost optimization being a constant objective of the project company and Nuclearelectrica”, claim the company representatives.
Based on the decisions of the shareholders of Nuclearelectrica (the Romanian state holds 82.49% of the shares), with strict reference to the shareholders’ decision of 12.02.2026, which approved the adoption of the Final Investment Decision (FID) in the Doicești Small Modular Reactors (SMR) Project, Nuclearelectrica has corporate obligations to fulfill these decisions. The investment decision (FID) was approved based on a series of additional conditions intended to establish a solid support and cooperation framework, at the level of partnerships and authorities, for the purpose of the optimal development and implementation of the project.
Currently, the teams of specialists of RoPower and SNN are working on addressing these conditions, part of these conditions being the responsibility of the companies, and another part of the responsibility of the government authorities. “In addition to nuclear safety aspects, which represent the absolute priority in any nuclear project, the main work agenda, which has already started in March 2026, of the implementation teams is aimed at ensuring financing, continuous optimization of costs, obtaining rights, licenses, discounts, the final objective being that the price per MWh produced be commercial, affordable. Basically, the optimal model of technical configuration that determines the most advantageous conditions for Romania”, the press release states.
According to the cited source, the SMR project is according to the planning in terms of budget and stages, considered robust from the point of view of nuclear safety, internationally respected, with interest from the investor community (investors in the data room), developed in mixed teams of Romania-USA specialists, with maximum attention paid to the development of a landmark project for the nuclear industry, implicitly maximum cost efficiency.
From a financing point of view, Nuclearelectrica contributed to the share capital of the RoPower project company with the amount of 4 million euros, similar to the partner Nova Power &Gas.
Additionally, based on the decisions of SNN shareholders, implicitly based on the Decision of the Extraordinary General Meeting of SNN Shareholders no. 8/19.07.2024, SNN shareholders (the Romanian state and other shareholders) approved: “the increase in the ceiling of the loan granted by SNN (as creditor/lender), under the Framework Loan Agreement no. 1 dated 16.08.2023, up to the amount of 243,000,000 USD and, at the same time, the approval of the conclusion, by SNN, as borrower/lender, of Addendum no. 3 to the Framework Loan Agreement no. 1 dated 16.08.2023, with the mention that access to this loan is made to you by the RoPower Nuclear S.A. Company (the borrower) only to the extent that financing for the Doicești SMR Project could not be ensured from other sources (share capital, generated by changing the RoPower Nuclear shareholding structure, or bank loans/credits or other sources of financing) and, anyway, only until such other sources of financing are identified.”
Currently, RoPower Nuclear’s debt is fully owed to Nuclearelectrica, but Nuclearelectrica has secured methods of debt recovery by capitalizing on electricity production, deliverables and intellectual property rights, measures that are part of financial risk management, perfectly normal aspects of such a project.
Nuclearelectrica specifies that for the financing of the SMR Doicești Project, the project company Ropower Nuclear S.A. is considering, in addition to the financial contributions of its shareholders up to this point, attracting other sources of financing, as provided for in the developed financial model, including: attracting new investors (interest already expressed), accessing credits from Export Agencies, accessing grants and other sources, as they will be identified/available.
“In conclusion, the phased development of the Doicești SMR Project, also approved by SNN shareholders through the project development strategy, is 100% compliant with the specific stages of development of a nuclear project, independently validated by IAEA assessments, compliant with all nuclear industry norms and standards. Any evolution in the development of the Doicești SMR Project will be communicated by Nuclearelectrica in compliance with the provisions applicable to a company listed on the Bucharest Stock Exchange”, support Nuclearelectrica representatives.
SNN specifies that it has been considering, for many years, the development of the Romanian nuclear program, at an unprecedented level, both through the implementation of large-capacity reactors, and through technological developments, absolutely necessary to ensure flexibility in the energy system in the long term in relation to the increase in the share of renewable resources. “The capacity of an operator and a state to develop SMR capacities is an absolute advantage in terms of energy security and the development of an entire economic and energy ecosystem”, the press release states.
Nuclearelectrica’s reasoning, implicitly the investment strategy approved by SNN shareholders, aimed to maximize the potential of the Romanian nuclear industry and position this industry at least at a regional level at a time when international emphasis is placed strongly on the advantages of SMR technologies. The advantages of developing and implementing such a project become evident at the time of operationalization and by reporting to the European evolution of SMR technologies, the cited source reveals.
“Strategic energy projects are and must be transpartisan, developed strictly in the interest of Romania, consumers and by reporting to the area of economic and financial advantages derived from the development of these projects. Equally, large infrastructure projects need predictability, stability and joint efforts in order to achieve the final objective”, the press release also states.