nuclear-news

European Investment Bank Approves €800 Million For Cernavodă-1 Nuclear Plant Refurbishment

By David Dalton, 20 July 2026, https://www.nucnet.org/news/european-investment-bank-approves-eur800-million-for-cernavoda-1-nuclear-plant-refurbishment-7-1-2026

Romania also pushing ahead with plans for two new large-scale units at site

The European Investment Bank (EIB) has approved €17.4bn ($19.8bn) in financing to strengthen Europe’s energy autonomy, including an €800m loan for the refurbishment and life extension of one of two reactors at Romania’s Cernavodă nuclear power station.

The EIB said the financing, which covers Unit 1, is for key component replacements and system upgrades, enabling a new cycle of reliable and safe operation.

It said Cernavodă, Romania’s only commercial nuclear power station, generates around 20% of the country’s electricity.

combined €620m with a banking syndicate led by J.P. Morgan to advance the refurbishment of Cernavodă-1 and preparatory work for Cernavodă-3 and -4.

It also signed two agreements with subsidiaries of France’s EDF related to key projects for the Cernavodă-1 refurbishment.

In December 2024, Nuclearelectrica signed the main engineering, construction, and procurement contract to extend the life of Cernavodă-1 at a cost of about €1.9bn. The contract is with a consortium of four companies, comprising Canada’s AtkinsRealis, the Canadian Commercial Corporation, Korea Hydro & Nuclear Power (KHNP) and Italy’s Ansaldo Nucleare.

In September 2023, Canada announced €1.8bn in export financing to Nuclearelectrica towards the construction of the two new plants at Cernavodă.

July 25, 2026 - Posted by Christina Macpherson | business and costs, EUROPE