The Ministry of Energy postpones further negotiations for the construction of Cernavoda Reactors 3 and 4 with the Chinese side and calls for the appointment of a new negotiating committee. Thus, the Ministry of Energy asked the Nuclearelectrica management to complete the agenda of the Extraordinary General Meeting of Shareholders of SNN dated 22.08.2018, by introducing a new point, namely: “Postponement of the approval of the revised form of the Project Continuity Strategy, with the recognition of the stages up to date, including those carried out under the provisions of the Government Memorandum no. 20/12683 / MB of July 13, 2017 and the subsequent mandate granted to SNN Board of Directors through GMS Decision no. 6 / 24.08.2017, in the sense of: Reorganizing the existing negotiation / approval phases and terminating the work of the designated commissions (Negotiating Commission and Interministerial Commission), the negotiations being conducted by a negotiating committee appointed by SNN’s executive management”, quotes investenergy.ro.

The majoritary shareholder of SNN motivated its request by requiring clarification of some aspects and modifications of the revised Continuation Strategy of Units 3 and 4 of Cernavoda NPP, published on the SNN website, says a news release sent to Bucharest Stock Exchange.

SNN representatives point out that the project’s follow-up strategy was revised following the act received by SNN at 25.06.2018 from the Ministry of Energy through address no. 261387, on the approval by the Government of Romania, on 21.06.2018, of the Memorandum on “Approval of the necessary measures to ensure the continuity of the Units 3 and 4 of the Cernavoda NPP and finalizing the negotiations with the selected investor”; and the request of the majority shareholder, the Ministry of Energy, to take the necessary steps to implement the provisions of the Government Memorandum.

According to the new strategy for the Cernavoda 3 and 4 reactor project, the SNN chiefs would have been mandated by shareholders to continue negotiations with the Chinese at CGN and set up the joint venture.