Romania is on the brink of a significant development in its energy landscape as the Nuclearelectrica shareholders prepare for a crucial vote regarding the final investment decision for the small modular reactor (SMR) project based on NuScale technology at Doicesti. This extraordinary general meeting is set for February 12–13, following a request from the Romanian government, which holds a majority stake in the company.
The political landscape surrounding the Doicesti project has shifted positively after a period of uncertainty. In December, Romanian Energy Minister Bogdan Ivan reiterated the government’s backing for the SMR initiative, indicating that negotiations with project stakeholders have led to a financial structure that can support the ongoing development phase. Officials have indicated that the first reactor unit is projected to commence operations between 2027 and 2028.
Nuclearelectrica has emphasized the importance of the forthcoming shareholder vote as a pivotal moment for advancing what is seen as one of Romania’s most essential energy investments. The state, which owns 82.5% of Nuclearelectrica, also has a 50% stake in RoPower Nuclear, the joint venture responsible for developing the Doicesti site; the other half is owned by Nova Power & Gas, part of the infrastructure group E-INFRA.
The proposed facility aims to deploy six NuScale-designed small modular reactors, collectively generating an output of 462 MW. However, cost projections remain uncertain. The Romanian Ministry of Energy has referenced an estimated budget of around €4.9 billion, but cautions that final expenses may fluctuate significantly due to design stage complexities and market conditions. The issue of cost has been a persistent challenge for NuScale projects worldwide; notably, in late 2023, a similar 462 MW SMR project in the United States was canceled after its projected costs escalated by over 75%, highlighting the inherent financial risks tied to nuclear development endeavors.
