EIB Approves €800 Million Loan to Refurbish Romania’s Cernavoda Nuclear Plant

The European Investment Bank (EIB) has approved a €800 million loan for the refurbishment of Unit 1 at Romania’s Cernavoda Nuclear Power Plant, the country’s only nuclear facility. The announcement was made by Nuclearelectrica, the state-owned operator, which hailed the decision as a historic milestone for Romania and the nuclear energy sector.

The loan represents the largest EIB financing ever granted for a nuclear project in Romania and underscores the EU’s commitment to supporting low-carbon energy sources. The refurbishment aims to extend the operational life of the 700-megawatt unit, ensuring continued energy security and reducing carbon emissions for decades to come.

Nuclearelectrica stated that the project will undergo further approval processes as required by national legislation. The investment is part of Romania’s broader strategy to modernize its energy infrastructure and meet EU climate targets. The refurbishment is expected to create thousands of jobs and boost local economic activity.

Experts view the loan as a strong signal of international confidence in Romania’s energy sector. With the Cernavoda plant providing about 10% of the country’s electricity, the refurbishment is critical for maintaining stable power supply amid growing demand and the transition to cleaner energy.

Article source: thediplomat.ro | Image credit: Energy Industry Review