The U.S. Export-Import (EXIM) Bank has approved up to $99 million in funding to support the development of Romania’s 462 MW Small Modular Reactor (SMR) project in Doicești. The project is managed by RoPower Nuclear, a joint venture between Nuclearelectrica, a state-owned operator of Romania’s Cernavodă nuclear plant, and Nova Power & Gas from the E-INFRA group.
This funding will be allocated to critical activities such as site development, regulatory approvals and detailed engineering for the SMR. The EXIM commitment is part of an initial $275 million package, which includes contributions from other international partners, such as the U.S. International Development Finance Corporation.
Earlier this year, a South Korean investment fund obtained preliminary approval to acquire one-third of RoPower Nuclear. The Romanian Minister of Energy, Sebastian Burduja, highlighted that this SMR project is a key signal of Romania’s collaboration with the U.S. in achieving energy independence, transitioning from coal to nuclear, and reducing carbon emissions. The technology for the SMRs comes from U.S. company NuScale, which recently canceled a similar U.S. project due to escalating costs.
The Romanian Ministry of Energy estimates the total budget for the Doicești SMR project at $4.9 billion, with the potential to reduce Romania’s carbon emissions by 4 million tons annually.
