RWE Power, Partners Give Go-Ahead for Investment in Romanian Nuclear

Tuesday, November 25, 2008

RWE Power, Societatea Nationala Nuclearelectrica and five other partners have given the provisional go-ahead for an investment contract towards the creation of a joint venture company in Romania.

The contract will be signed by the participating companies upon approval by the Romanian government. The contract seeks to construct Unit-3 and Unit-4 of the Cernavoda nuclear power station in Romania, using the Canadian CANDU reactor technology.

The project will proceed in two stages. At the development stage, scheduled to take 18 months, the project company will co-ordinate and specify the technical details of the project. It will also negotiate and finalize the contracts relevant to the project. The second stage will involve the implementation of the project.

Holger Bietz, head of regional development at RWE, said: "Romania is one of RWE's core markets. The Cernavoda project is an important milestone for our entry into the Romanian market and also a vital contribution to CO2-free and competitive power production."

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