Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. U.S. EXIM Bank commits $99 ml to Doicesti...

U.S. EXIM Bank commits $99 ml to Doicesti SMR project

October 31, 2024

  The Export-Import Bank of the United States (EXIM) has approved a financial commitment of up to $99 million for RoPower Nuclear S.A., to finance the development of the Doicesti small modular reactors (SMR) project, the Romanian company announced in a statement.This commitment is part of an initial $275 million funding package which includes significant contributions from other international institutions, such as the U.S. International Development Finance Corporation (DFC) and private partners."The Doicesti SMR project is a strong signal given by Romania together with its strategic partner, the United States of America. A signal for energy independence and security, a signal for innovation, a signal for a green and pragmatic transition from coal to nuclear energy, also a form of band production, a signal based on Romania's competitiveness in the nuclear sector. The financing approved by the U.S. EXIM Bank is a confirmation of the U.S. commitment to this large-scale project which positions Romania among the leaders of cutting-edge nuclear technologies. I am convinced that at the end of the decade we can be among the world's first SMR-powered countries, which will mean a historic opportunity to develop a local supply chain, and Nuclearelectrica has every chance to operate other such projects across the entire region," Energy Minister Sebastian Burduja said in the release.The project, whose construction will start after the completion of the second Front-End Engineering Design (FEED) phase, will help Romania reduce carbon emissions by approximately 4 million tons annually."This financial commitment by EXIM Bank is a vote of confidence not only in Romania's ability to implement state-of-the-art nuclear technologies, but also in the solid partnership between our country and the U.S. The financing will allow us to take decisive steps towards an energetically safer, cleaner and sustainable future, and Romania thus positions itself as an energy innovation leader at regional level," said Nuclearelectrica CEO Cosmin Ghita.The EXIM Bank financing is essential to the project's advancement, supporting critical activities such as site assessment, obtaining regulatory approvals and the completion of detailed engineering work. This positions Romania as a regional leader in clean energy innovation, contributing to the EU's ambitious climate goals.The Doicesti project is expected to generate over 2,000 new jobs during the construction period and over 230 permanent jobs for the operation of the plant, plus thousands more jobs in related industries.The lifetime of the Doicesti-based new SMR power plant is over 60 years, from the commissioning planned for the end of the current decade. The project is a generational one that will produce clean, safe and carbon-free energy, and a key point in Romania's commitment to triple its energy generation capacity from nuclear sources by 2050.    

The text of this article has been partially taken from the publication:
http://actmedia.eu/energy-and-environment/u.s.-exim-bank-commits-99-ml-to-doicesti-smr-project/110639
Read in full - click here
President Dan appoints PM Bolojan as interim Vice PM following Anastasiu's resignation

President Nicusor Dan signed on Thursday the decree appointing Prime Minister Ilie Bolojan as interim Vice Prime Minister on the areas coordinated by Dragos Anastasiu, the Presidential Administration informed.On 27 July, Dragos Anastasiu announced he was stepping down from the vice prime minister office, mentioning that he could no longer accept "being denigrated and thus […]

PM Bolojan at meeting with mayors: Responsible approach gives strong chance to overcome current difficult period

 Prime Minister Ilie Bolojan continued consultations on Thursday with representatives of the Association of Communes of Romania, telling them there is a strong chance to overcome the current difficult period if the approach of "responsibility toward public funds" is maintained."The reform of local public administration will be part of the second package of government measures […]

Cseke Attila: Financing PNRR projects stops only when investment has not started

Financing the National Recovery and Resilience Plan (PNRR) projects will continue for those already initiated and will stop only in case investment has not begun, where not a single euro was spent for construction, Development minister Cseke Attila explained on Thursday.   “PNRR will not stop, neither will financing investments which have already been initiated, […]

Insolvency Law amended in second package of Government reforms

The Justice Ministry announced on Thursday having developed in cooperation with the Finance Ministry and the National Tax Administration Agency a set of proposals to amend the Insolvency Law, which will be included in the second reform package.Some of the amendments provide for a higher recovery rate of the taxes and fees owed by insolvent […]

Business consultant: Romania is in the antechamber of recession

  Romania is in the antechamber of recession, with the risk that its economy will decline in the third or fourth quarter, especially amid an increase in taxes, a significant drop in sales and record inflation at European level, says business consultant Adrian Negrescu."We are currently in the antechamber of recession. It is a moment […]

Culture Ministry to adapt national legislation for implementation of European Media Freedom Act

 The Ministry of Culture announced on Thursday that is set to adapt national legislation for enforcing the European Media Freedom Act (EMFA), which supports media pluralism, editorial responsibility, protects journalists from abusive surveillance and intimidation, and provides protection for sources.According to a Culture Ministry release, the implementation in Romania of Regulation (EU) 2024/1083 of the […]