Nuclearelectrica and Energocom, the energy supplier of the Republic of Moldova, announce the signing of a Memorandum of Understanding (MoU) to develop long-term cooperation between the parties in the energy sector and to achieve common strategic objectives, as Energynomics wrote in May – The Republic of Moldova will conclude a PPA type contract with Nuclearelectrica.
The objective of the MoU is to explore options to ensure the delivery of energy from Nuclearelectrica’s future production from the new capacities to enter into commercial operation, mainy Units 3 and 4 of Cernavoda NPP, as well as support for the development of human resource capabilities and skills in the field of nuclear energy.
“Units 3 and 4 of Cernavoda NPP will be a pillar for both Romania and Moldova’s energy sectors, as well as for the decarbonization of the countries. By putting into commercial operation two more CANDU reactors and the small modular reactors project, Nuclearelectrica can contribute with clean energy to Romania’s energy security, and simultaneously support the Republic of Moldova and other countries in the region.
”In 2031, Romania will have an installed nuclear power capacity of 3262 MW, resulting from the operation of Units 1 and 2, the operation of Units 3 and 4 at Cernavoda and the operation of small modular reactors, which represents about 33% market share and about 66% of the total clean energy produced in Romania. Together with Energocom we can identify, early on, efficient support solutions with the common goal of reaching energy security, energy independence and consumer protection for Moldova as well. We are also proud to contribute to the development of human resources as development and innovation rely on highly qualified personnel,” says Cosmin Ghita, general manager of Nuclearelectrica.
“The basic intention is for the Republic of Moldova to become through Energocom a co-investor in this project. On the one hand, we want to facilitate the implementation of these projects in Romania, and on the other hand, to ensure certain volumes of electricity at good prices for consumers in Moldova,” said Energy Minister Victor Pârlicov, according to nordnews.md.
“Last year, in a complicated situation for the Republic of Moldova, Nuclearelectrica was a trusted partner that helped Energocom to secure the country with electricity. We aim to strengthen this partnership, to diversify energy sources and have stable energy sources. We are confident that the started projects will open new horizons of cooperation”, adds Victor Bânzari, acting director of Energocom.
Globally, nuclear energy covers 10% of total electricity needs and is estimated to increase to approximately 17% in IEA member states. In the European Union, including the UK, nuclear power generates 50% of the electricity without greenhouse gas emissions. Nuclear power has avoided 74 Gt of CO2 emissions over the last 50 years, according to a UNECE report.
Romania has set very ambitious decarbonisation targets: reducing GHG emissions by 55% by 2030; reducing import dependency from 20.85% to 17.8% by 2030; eliminating up to 4.59 GWe of coal-fired power by 2032 and replacing it with clean energy sources.