CGN was selected as the final investor in Cernavoda 3&4

    On October 14, 2014 in local time, Romanian government nuclear power project negotiation committee officially announced that China General Nuclear Power Group (CGN) was selected as the final investor of units 3&4 of Cernavoda NPP project (hereinafter referred to as ‘the Project’). CGN is said to sign a letter of intent on October 17 with Romania's Societatea Nationala Nuclearelectrica (SNN) on the construction of the Project, marking that CGN takes a new solid step towards its aims of "go global" strategy.
    Romania is regarded as one of the most promising countries in Eastern Europe. The Romanian GDP growth in 2013 was 3.5%, among the countries with fastest economic development in EU. It is prediccted that Romania’s annual GDP growth will reach 3.9% between 2014 to 2021, while electricity consumption will maintain 2~3% growth. The Project is an inland nuclear project, located at Constanta of Romania on the Danube Riverside. Romanian Government plans to build a five-unit nuclear power plant in the site. Unit 1&2 are operational, and Unit 3&4, a giant project highlighted by Romania government, has been approved by European Commission (EC) on 5 December 2010, which are planned to put into operation in 2019 and 2020.
    In September 2010, CGN started to communicate and negotiate with the counterpart of Romania. On 25 November 2013, He Yu, Chairman of CGN signed a letter of intent on construction of units 3&4 of Cernavoda NPP with Daniela Lulache, president of Romania's Societatea Nationala Nuclearelectrica (SNN), which was witnessed by Chinese premier Li Keqiang and Romanian prime minister Victor Ponta. On 21 March 2014, Romanian deputy Prime Minister Liviu Dragnea visited Daya Bay NPP and said after that he was impressed by CGN’s powerful strength, professional ability and huge achievements, and he also expected China to fully cooperate with Romania to implement Cernavoda nuclear project.
    In late July, 2014, during a visit to Canada of Wu Xinxiong, Director of NEA, CGN signed a binding exclusive cooperation agreement on construction of Cernavoda Unit 3&4 with Candu Energy, and a MoU with Cameco. In August 2014, a public tender was launched for developing the Project, CGN finally won the bidding on October 14. According to the briefing, CGN will strive for completing the relative negotiations with Romania's Societatea Nationala Nuclearelectrica (SNN) this year, and set up a joint venture to secure the project developing right.
    the September 29, 2014 is the day of 20-years anniversary of the founding of CGN (formerly CGNPC) . Since 1980s when it started from the construction of Daya Bay NPP by introducing international advanced technology in 1980s, CGN has established a series of systems on nuclear power production, engineering construction, scientific and technological R&Ds, and nuclear fuel supplies by constantly absorbing advanced experience of international nuclear power enterprises, and strengthening cooperation with all partners in nuclear power production, engineering construction, project development, personnel training, etc.
    Through twenty years of development, CGN has nowdays been undertaking 64% of China’s nuclear operation and 51% of construction, with 11 units in operation with a total capacity of 11.62 GW, to which 15.5 GW will be added after the commissioning of 13 additional nuclear units under construction. The nuclear fleet of CGN shows excellent safety operation performance up to advanced level in the world.
    In recent years, with the goal of “building a world-class clean energy group”, CGN has always been actively promoting the “go global” strategy. On October 17, 2013, during the British Chancellor George Osborn’s visit to China, CGN signed a strategic cooperation agreement with EDF to jointly invest in British nuclear power projects, stepping out a good start of China's nuclear power into the developed countries. And during Chinese Premier Li Keqiang’s visit to UK on June, 18, 2014, CGN’s UK Office in London was unveiled. Besides, CGN set up a subsidiary CGN European Energy Company in France for developing new energy markets in Europe.
    In view of being selected as the final investor of the Romanian nuclear power project and forthcoming signing a binding letter of intent for investment in the Project with Romanian national nuclear company Nuclearelectrica, it shows that CGN’s comprehensive strengths in nuclear construction, operation and R&D, etc. have been recognized by the international community, and CGN has stepped out a new progress in promoting “go global” strategy. Mr. Hu Guangyao, a spokesman of CGN said that the achievements on the contract for Romanian nuclear power project is of great significance: firstly, it can effectively export and test CGN’s engineering design and management integration experience gained from its nuclear power construction and operation at home in the past 30 yearsand help cultivate internationalized operation experience and train international talents; secondly, it can bring the manufacturing industry “go global” to drive “made in China” going abroad and help enter EU high-end energy markets; and finally, it can help realize China’s new energy business to Romania and further to its neighboring countries based upon the breakthrough in nuclear technology service export to Romania,.