Romania Rejects Nuclearelectrica Proposal Amid SMR Project Probe

The Romanian Ministry of Energy and other shareholders rejected a proposal by state-owned Nuclearelectrica to reassess the development strategy for its Small Modular Reactor (SMR) project. Nuclearelectrica had sought to conduct a technology benchmarking study to explore alternative SMR technologies and sites because certain conditions for the Final Investment Decision for the Doicești project were not met. Energy Secretary Cristian Bușoi stated the request lacked sufficient data and substantiation.

The dispute follows a report from the control body of acting Prime Minister Ilie Bolojan, which alleged the project is 20 months behind schedule with costs rising by USD 3.8 billion. The report further claimed that the land for the Doicești site was purchased at nearly double its valuation and that the partnership structure disproportionately favors the private partner, Nova Power & Gas.

Nuclearelectrica defended the project, asserting all decisions were legal and made to protect the interest of the Romanian state. The company argued that timeline shifts are inherent to first-of-a-kind European implementations and that the site was validated by the International Atomic Energy Agency. Regarding land costs, Nuclearelectrica noted that a forensic audit was commissioned before approving a payment of over EUR 20 million for land improvements. Nova Power & Gas contested the government's findings, stating the land value reflects EUR 40 million in improvement works and noting that the project company, RoPower Nuclear, holds a contractual option to reverse the purchase and recover payments until October 1, 2026.