Nuclearelectrica, the company that runs Romania’s sole nuclear power plant, located in Cernavoda, has chosen China General Nuclear Power Corporation (CGN) as its investor for the development of two new nuclear reactors.
The project is worth of some 6.5 billion euro, according to company sources.
The Chinese company was the only bidder in the tender procedure organised by Nuclearelectrica.
(Reuters) - European Union state aid regulators are set to approve Britain's 19-billion-euro (£15 billion) plan to build a nuclear plant with French utility EDF, several people familiar with the matter said on Wednesday.
The case is important for Britain, which wants to replace a fifth of its ageing nuclear power and coal plants over the coming decade, and for France, whose nuclear sector would benefit from the major export contract.
Other EU countries such as Germany, which is phasing out nuclear energy, and pro-nuclear Lithuania and Poland are also following the case for guidance on the level of state aid allowed for such projects.
SNC Lavalin subsidiary Candu Energy has signed a 'binding and exclusive' contract with China Nuclear Power Engineering Company, Ltd. (CNPEC) for the construction of CANDU Units 3 and 4 at the Cernavoda Nuclear Power Plant in Romania in Vancouver. The agreement was witnessed by senior representatives of China's National Energy Administration and Natural Resources Canada.
This agreement follows a letter of intent signed by CNPEC's parent company China General Nuclear Power Group (CGN) and Romanian utility Societatea Nationala Nuclearelectrica (SNN) in November 2013 for investment in and development of two additional nuclear units at the Cernavoda site.
It was hailed by UK Chancellor George Osborne as a "new dawn" - but serious questions remain about the security implications of Britain's nuclear energy deal with China.
The UK government has refused to say whether China's planned investment in the British nuclear industry was approved by the National Security Council - the body that assess the risks from foreign investment in critical national infrastructure projects.
Chancellor George Osborne announced during his trip to China in October that Chinese state owned companies CGN and CNNC would be allowed to take a 40% stake in the company planning to build the Hinkley C nuclear power station in Somerset.
LONDON/PARIS (Reuters) - Britain is set to sign a deal with France's EDF for the first nuclear plant to start construction in Europe since Japan's Fukushima disaster raised safety concerns worldwide, at a cost estimated at around $23 billion.
Under the deal, expected to be announced on Monday, the French utility will lead a consortium, including a Chinese group, to construct two European Pressurised Water Reactors (EPRs) designed by France's Areva.
ED DAVEY, the energy secretary, will travel to Beijing this month to lay the groundwork for a sweeping new partnership that could lead to Chinese-designed nuclear reactors being built in Britain.
The trip is the latest sign of the government's desperation to find backers for its troubled £200bn low-carbon overhaul of the energy industry. Last week Michael Fallon, Davey's No2, signed a memorandum of understanding to co-operate on civil power with Rosatom, the Russian state nuclear monopoly.
Electricite de France SA’s chief executive officer said he’s willing to join Centrica (CNA) Plc in walking away from building the U.K.’s first reactors in two decades unless the government ensures the project is profitable.
“We won’t do it” if if the price for their power isn’t high enough, CEO Henri Proglio said in an interview in Bure, eastern France. “I won’t qualify myself as confident, but rather conscious that an agreement can be reached” on prices.
LONDON (Reuters) - Utility Centrica has pulled out of plans to build new nuclear power stations in Britain with partner EDF, paving the way for Chinese investors to enter the UK market through a partnership with the French firm.
Centrica said it had decided to waive an option of taking a 20 percent stake in four new reactors - two at Hinkley Point in Somerset and two at Sizewell in Suffolk.
Centrica's decision was largely expected, but it casts some doubt on the UK government's plan to attract investment to revive the nuclear industry.
China is poised to make a dramatic intervention in Britain's energy future by offering to invest billions of pounds in building a series of new nuclear power stations.
Officials from China's nuclear industry have been in high-level talks with ministers and officials at the Department of Energy and Climate Change (DECC) this week about a plan that could eventually involve up to five different reactors being built at a total cost of £35bn.
