Small modular reactors (SMR) have the advantage that they can be located closer to the consumer and in this context the elimination of coal is an opportunity to introduce the new technology faster, better and cheaper, Cosmin Ghiță, general manager of Nuclearelectrica, said on Thursday, with on the occasion of the Business Forum of the Three Seas Initiative.

“Location is an important cost. Network connections are also an important cost…At the Doicesti thermal power plant, a coal-based energy complex built in the 1960s, you have all these things together. And that’s how we have to make the transition to clean systems,” said Cosmin Ghiță, according to Agerpres.

Referring to what needs to be done, the CEO of Nuclearelectrica appealed to the banks to find a way to provide the cheapest financing.

“Because the financing has a similar impact as the construction of the project on the cost of electricity. And in the end what we need is clean, sustainable and accessible energy for everyone,” said the GM of Nuclearelectrica.

“I think we’ve all come to a point where we realize we need nuclear power and we need to start now. It will take 10 years, but all nuclear projects take time. They can’t be done overnight. And we have to we are starting now”, added Cosmin Ghiță, speaking of the second phase of the project regarding reactors 3 and 4 at the Cernavodă plant.

Previously, Nuclearelectrica signed a letter of intent with the “Three Seas Initiative” Investment Fund (3SIIF) to explore a potential collaboration in the renewable energy production sector in Romania.