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Romania to work with NuScale on small nuclear power reactors

BUCHAREST, Nov 2 (Reuters) - Romania will partner with American company NuScale Power to build small nuclear reactors as part of its efforts to boost low-emission power sources, the White House said on Tuesday.

The European Union state uses a mix of gas, coal, hydro, nuclear and renewable energy to generate electricity. But many of its generation plants are decades old and need to be refurbished or replaced.

The country's sole nuclear power producer, state-owned Nuclearelectrica ROSNN.BX, currently has two 706-megawatt reactors, which account for roughly a fifth of Romania's power.

The company plans to add two more reactors. In 2020, it signed an agreement with U.S. construction and engineering firm AECOM ACM.N which will lead an $8 billion project to add two reactors at Romania's nuclear power plant on the river Danube and refurbish one of its existing units.

"The United States and Romania will announce today plans to build a 'first-of-a-kind' small modular reactor (SMR) plant in Romania in partnership with U.S. NuScale Power, bringing the latest civil nuclear technology to a critical part of Europe," the White House said.

The agreement will include a 12-module NuScale plant, it said.

Romania is one of several EU states which have jointly pushed for including nuclear energy in the bloc’s sustainable finance rules.

The countries have long sought for nuclear to be included as a way to reach the EU’s climate goals, with the recent spike in energy costs, especially for gas, adding weight to the debate.

(Reporting by Luiza Ilie in Bucharest Editing by Matthew Lewis)

((luiza.ilie@thomsonreuters.com; +4021 527 0312; https://www.reuters.com/journalists/luiza-ilie))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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