BUCHAREST, July 25 Canada's Candu Energy said on
Friday it will help China Nuclear Power Engineering Company
(CNPEC) build two nuclear reactors in European Union state
Romania if and when the Chinese firm decides to invest there.
Romania's state-owned nuclear power producer
Nuclearelectrica and CNPEC signed a letter of intent
for investment and development of two reactors late last year
and are currently negotiating, but no final investment decision
has been made.
Nuclearelectrica already has two 706 megawatt reactors on
the river Danube that use Candu technology, and plans to add two
Candu Energy, owned by SNC Lavalin Group, signed a
"binding and exclusive cooperation agreement" with CNPEC to
provide the technology for the future reactors when a final
investment decision is made, a spokeswoman for the firm said.
"Candu Energy looks forward to working with CNPEC to meet
Romania's growing nuclear energy requirements," Candu Chief
Executive Preston Swafford said in a statement on Friday.
Nuclearelectrica had initially planned to build the
reactors, estimated to cost roughly 6 billion euros ($8
billion), in partnership with six European energy firms, which
later withdrew from the project.
Nuclearelectrica's existing two reactors were connected to
the national grid in 1996 and 2007, respectively. They account
for roughly a fifth of the country's power production.
($1 = 0.7442 Euros)
(Reporting by Luiza Ilie; Editing by Ruth Pitchford)