Nuclear-Power Producer Expanding Cernavoda Plant

Daniela Lulache, CEO

European Times: What is Romania’s strategy for nuclear power?

Daniela Lulache: I am very proud that Romania is ranked number one worldwide in nuclear power capacity factor. Romania is 100% energy-independent, and supports nuclear power because of its affordability and price stability. Nuclear power also helps Romania reduce its carbon emissions and attract international investors. Nuclearelectrica was the first major Romanian company to seek out the American market through road shows, and now several US funds are our investors. Romania has been working to attract investment in a project to expand the Cernavoda nuclear-power plant, and the government recently signed a memorandum of understanding with China General Nuclear Power Corp, which won the tender to be a strategic investor in developing units three and four at the plant.

European Times: What are some of Nuclearelectrica’s other current projects?

Daniela Lulache: Nuclearelectrica’s number one project at this time is to extend the life of unit one at Cernavoda, which will require an investment of around €1.2 to €1.5 billion. We want to ensure another 25 to 30 years of operations for this unit. We plan to finance this project through bank loans, new shares on the capital market and bond issues.

European Times: What is your message to potential investors?

Nuclearelectrica

Daniela Lulache: Romania is rich in resources, has many dynamic companies, and has a mature economy of great interest to investors. In addition, Romania’s energy market is certain to continue to grow as the national economy expands. I would like to see a level playing field in the energy market. I support renewable energy but we also need the reliability and stability that nuclear power can help provide. As for the safety issue, Nuclearelectrica employs cutting-edge CANDU 6 technology, developed in Canada. This technology has been proven over time to be very reliable, robust and sound, although it is more common in North America than in Europe. In addition, Nuclearelectrica applies three levels of technological controls against accidents. I do not know any other energy provider with such rigorous controls. I invite international investors to visit Romania. They will find very attractive partners here for projects in Romania, across Europe and worldwide.