Romania plans to borrow more than $ 3 billion from the Export-Import Bank of the United States (EXIM) to build two new reactors at the country’s only nuclear power plant.
EXIM received two expressions of interest in US exports to be used in the nuclear power plant project in Romania.
One of the letters concerns an initial loan of approximately $ 50 million to support the second phase of the project, which is expected to begin in the second quarter of 2023.
The second letter concerns a $ 3 billion loan that will cover the entire US contribution to the project, Romanian Energy Minister Virgil Popescu said.
The governments of Romania and the USA have entered into an intergovernmental agreement to cooperate in the expansion and modernization of the Romanian nuclear power plant program.
One of the most important projects concerns the construction of two new nuclear reactors in Cernavoda, which already operates two 700 MW reactors, which supply about one fifth of the country’s electricity needs.
The projects have been stalled for years, but the recent energy crisis seems to have prompted the Romanian authorities to accelerate development.
According to Prime Minister Nicolae Ciuca, EXIM Bank loans will represent about one third of the project’s financing needs.
However, Romania and the United States also want to jointly develop so-called small modular nuclear power plants.
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