Nuclearelectrica will continue developing the Doicești small modular reactor project following a shareholder vote that rejected a proposal to review the implementation strategy, alternative technologies and possible project locations. The decision was taken at the company’s General Shareholders’ Meeting on 15 July 2026. The Romanian Ministry of Energy, which controls a majority stake, backed continuation of the roadmap approved in 2022.
Shareholder vote and roadmap continuation
The General Shareholders’ Meeting on 15 July 2026 confirmed that Nuclearelectrica would not reset its approach for the Doicești SMR initiative. The Ministry of Energy supported keeping the 2022 roadmap in place. This maintained project continuity while leaving key items for later negotiation.
Commercial talks with NuScale and framework agreement
Nuclearelectrica and project company RoPower Nuclear will continue discussions with NuScale Power on commercial terms for supplying SMR modules. Negotiations will also cover the wider project framework agreement. In parallel, talks with the Romanian Government are set to continue regarding financial support and other conditions required before a final investment decision.
Pre-EPC timing and conditions for final investment decision
Nuclearelectrica has stated that the project cannot enter the Pre-EPC phase until all final-investment-decision conditions are met. Government support, commercial terms, risk allocation and the financing structure remain unresolved. The absence of an FID and the inability to move into Pre-EPC keep the development stage dependent on political commitment rather than contractual certainty.
First-of-a-kind deployment risk allocation for lenders
The Doicești project is described as the first commercial deployment of NuScale’s technology. That status introduces technical, financing, construction and operating uncertainties beyond those associated with an established large-reactor design. For lenders and strategic investors, first-of-a-kind technology raises contractual issues around how risks are assigned across parties.
The engineering, procurement and construction package is expected to allocate design-performance risk, module-delivery risk, licensing obligations, schedule delay and cost escalation among parties with sufficient financial capacity to absorb them. A strategy review could have reopened technology selection and site choice, but it would also have delayed development and reduced the value of work already completed. Shareholders opted to continue with the existing platform while negotiating outstanding commercial and state-support arrangements.
Next disclosure schedule for progress update
The next significant disclosure is expected in September 2026, when Nuclearelectrica plans to provide shareholders with an updated progress assessment. The project remains active despite not having reached an FID or entered Pre-EPC.
