Societatea Nationala Nuclearelectrica (SNN) has selected China General Nuclear Power Corporation (CGNPC) as an investor for the development of two 720 MW units (3 and 4) at the Cernavoda nuclear power plant in Romania. CGNPC had signed a letter of intent with the Chinese company in November 2013 and completed the qualification stage in September 2014. Nuclearelectrica, the operator of the Cernavoda nuclear plant and developer of the expansion project, aims to establish a joint venture, in which the selected investor (CGNPC) would own at least 51%.
A similar joint venture, SC EnergoNuclear, had been created in 2009 by Nuclearelectrica (with 51%) and six foreign groups (ČEZ, Electrabel, Enel and RWE with 9.15% each, and Iberdrola and ArcelorMittal with 6.2% each). However, all foreign partners withdrew from the project: ČEZ in 2010, GDF SUEZ, RWE and Iberdrola in 2011, and finally Enel and ArcelorMittal in 2013.