Cernavodă Reactors 3 and 4

Nuclearelectrica, the operator of Romania’s sole nuclear power plant (NPP) Cernavodă, wants to extend negotiations with Chinese General Nuclear Power Corporation (CGN) in reference to the construction of reactors 3 and 4 for another six months, according to the Convocation of the Extraordinary General Meeting of Shareholders scheduled for August 24th.

The agenda of the meeting includes "approval to continue negotiations on the Investment Documents under the same conditions mentioned in the Memorandum of Understanding (MoU) on the development, construction, operation and decommissioning of Units 3 and 4 at Cernavodă NPP for a period of up to 6 months from the date of the institutional and corporate approval, with the application of all other provisions of the MoU, including the possibility for any party to terminate the Memorandum without compensation by a simple written notice to the other party, if no agreement on the Investment Documents has been reached and to the extent to which delay was not caused by that party ", according to the Convocation.

The Ordinary General Assembly of the Nuclearelectrica Shareholders will also take place on 24 August, when a new temporary Board of Directors with a four-month mandate will be elected.

Source:RRA.Translated by Miruna Matei