{"id":11825,"date":"2014-10-20T12:00:00","date_gmt":"2014-10-20T09:00:00","guid":{"rendered":"https:\/\/vo.afonico-test.ru\/novosti-otrasli\/cgn-to-invest-in-new-cernavoda-units\/"},"modified":"2014-10-20T12:00:00","modified_gmt":"2014-10-20T09:00:00","slug":"cgn-to-invest-in-new-cernavoda-units","status":"publish","type":"post","link":"https:\/\/vosafety.ru\/en\/novosti-otrasli\/cgn-to-invest-in-new-cernavoda-units\/","title":{"rendered":"CGN to invest in new Cernavoda units"},"content":{"rendered":"<h4><strong>China General Nuclear (CGN) has been designated as the \u201cselected investor\u201d for the development of units 3\u00a0and 4\u00a0at Romania\u2019s Cernavoda nuclear power plant. A letter of intent has been signed to complete the two units.<\/strong><\/h4>\n<p>Romanian state-owned nuclear utility Nuclearelectrica announced on 17\u00a0October that it had selected CGN as an investor in the project. CGN was the only company to submit a non-binding bid by the 9\u00a0September deadline for the contract to build the two new reactors.<\/p>\n<p>On the same day, Nuclearelectrica and CGN signed a joint letter of intent to complete the two units.<\/p>\n<p>\u201cAccording to the amended time schedule, the following stages of the selection process are: the negotiation and signing of the memorandum of understanding regarding the joint implementation of the project and the negotiation of the articles of incorporation and investors\u2019 agreement of the new project company\u201d, Nuclearelectrica said. The memorandum of understanding will be submitted at the Nuclearelectrica shareholders general meeting on 8\u00a0December for approval, it added.<\/p>\n<p>Under the terms of the investor selection process, CGN must hold at least 51% of the share in the new joint venture project company. Nuclearelectrica will be a minority shareholder in the project.<\/p>\n<p>CGN and Nuclearelectrica signed a letter of intent last November for investment in and development of Cernavoda units 3\u00a0and 4. In July, CGN subsidiary China Nuclear Power Engineering Company (CNPEC) signed a \u201cbinding and exclusive\u201d cooperation agreement with Canada-headquartered Candu Energy Inc, an SNC-Lavalin company, for the construction of Cernavoda 3\u00a0and 4.<\/p>\n<p>Cernavoda is home to two operating Candu 6\u00a0pressurized heavy water reactors supplied by Atomic Energy of Canada Ltd (AECL) and built by a Canadian-Italian consortium of AECL and Ansaldo. Unit 1\u00a0started up in 1996, but work was suspended on a further four units in 1991. Unit 2\u00a0was subsequently completed and has been in operation since 2007.<\/p>\n<p>Efforts to resume work on Cernavoda 3\u00a0began in 2002, and a new project company, EnergoNuclear, was established in 2009\u00a0to oversee the completion of units 3\u00a0and 4. Initial partners GDF Suez, CEZ, RWE Power and Iberdrola subsequently withdrew, and the company is currently 100% owned by Nuclearelectrica. The Romanian state has been looking for new investors in the project to enable Nuclearelectrica to reduce its share.<\/p>\n<p>The partially-built units 3\u00a0and 4\u00a0at Cernavoda are currently in conservation, with civil structures 52% and 30% completed at each unit respectively. No major equipment has yet been installed at either unit.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>China General Nuclear (CGN) has been designated as the \u201cselected investor\u201d for the development of units 3\u00a0and 4\u00a0at Romania\u2019s Cernavoda nuclear power plant. A letter of intent has been signed to complete the two units. Romanian state-owned nuclear utility Nuclearelectrica announced on 17\u00a0October that it had selected CGN as an investor in the project. CGN&hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15],"tags":[],"class_list":["post-11825","post","type-post","status-publish","format-standard","hentry","category-novosti-otrasli"],"translation":{"provider":"WPGlobus","version":"3.0.6","language":"en","enabled_languages":["ru","en"],"languages":{"ru":{"title":true,"content":true,"excerpt":false},"en":{"title":false,"content":false,"excerpt":false}}},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>CGN to invest in new Cernavoda units - JSC \u201cVO \u201cSafety\u201d<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/vosafety.ru\/novosti-otrasli\/cgn-to-invest-in-new-cernavoda-units\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CGN to invest in new Cernavoda units - 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