Romanian power producer Nuclearelectrica plans to secure a €540 million credit facility from a bank syndicate led by JP Morgan to finance the refurbishment of Unit 1 at its Cernavoda nuclear power plant. The company’s management is currently seeking shareholder approval to proceed with the loan agreement, with full details of the syndicate’s structure and financing terms to be submitted for a vote.
In December 2024, Nuclearelectrica signed an Engineering, Procurement, and Construction (EPC) contract with an international consortium comprising Candu Energy, Ansaldo Nucleare, the Canadian Commercial Corporation, and Korea Hydro & Nuclear Power Co to carry out the upgrade.
The refurbishment aims to extend the reactor’s operational life while ensuring high safety standards and maintaining cost-efficiency.
