The United States Export-Import Bank (EXIM) announced on Wednesday at the COP27 climate conference in Egypt, its interest in providing financial support for a nuclear plant in Romania.
Romania’s President Klaus Iohannis was present at the event where US Exim Bank handed two letters of intent regarding the provision of loans for units 3 and 4 of Romania’s Cernavoda Nuclear Power Plant which will contribute to increasing the level of electricity available, for the benefit of Romanian citizens.
The two letters of intent mention a first loan of approximately USD 50 million which will support the preliminary works on units 3 and 4, and a subsequent loan of USD 3 billion for the actual construction of the units.
President Klaus Iohannis expressed his support for the continuation of joint Romanian-American efforts to promote energy security, in parallel with the achievement of climate change objectives, the development of renewable sources and nuclear energy being key elements in successfully achieving the green transition.
Iohannis emphasized that guaranteeing energy security can only be achieved by ensuring the availability of energy, highlighting Romania’s ambition to take concrete steps towards energy independence, with benefits for citizens, businesses and the entire region, according to a press release.
US Exim Bank Letters of Interest reaffirm the U.S. – Romania’s long-term partnership in the field of nuclear sector, supporting the development of Units 3 & 4 on due time to reach Romania’s climate and energy security goals.
The United States special presidential envoy for climate John Kerry stated that the Romanian project will double the energy production capacity at Cernavoda while helping reduce emissions.
The documents were handed over by the President and Chair of the Board of Directors US Exim Bank Reta Jo Lewis to the Romanian Minister of Energy, Virgil Popescu.