Planned SMR nuclear power plant to cost $6-7 billion, Romanian PM says

BUCHAREST, Feb 13 (Reuters) - Romania's planned 460 MW small modular nuclear reactor plant would cost up to $7 billion and it will take time to devise a funding plan for such a big investment, Romanian Prime Minister Ilie Bolojan said on Friday.

State-owned nuclear power producer Nuclearelectrica ROSNN.BX said on Thursday it has made a final decision to invest in the small modular reactor (SMR) plant in the central Romanian town of Doicesti, which could become Europe's first project using the technology.

The project, which would use technology from U.S. company NuScale Power SMR.N, would involve building six reactors staggered beyond 2030. Nuclearelectrica has a 50% share in the joint venture and did not disclose the cost of the project.

"As I remember it is a fairly big sum, $6-$7 billion and the business plan must also account for how the energy will be consumed," Bolojan told local radio station Europa FM.

"The investment will be made once a funding formula will be found. Given the very large amount of money, the complexity of such projects and the technology being in early days, I estimate we will not see the investment immediately."

European Union member Romania uses a mix of gas, coal, hydro, nuclear and renewables for electricity generation and has committed to phasing out lignite - or brown coal – under terms agreed in exchange for EU funds.

Nuclearelectrica has two 706 megawatt reactors that use Canadian CANDU technology, owned by AtkinsRealis ATRL.TO, formerly known as SNC-Lavalin group, accounting for a fifth of Romania's power production.

In 2024, it signed a 3.2 billion euro ($3.80 billion) main engineering contract to build an additional two 700 MW nuclear reactors by 2032 with a consortium of four firms including U.S. Fluor Corp FLR.N and Sargent & Lundy.

It has also signed the main engineering contract to extend the life of its first reactor, which was connected to the national grid in 1996, by three decades at a cost of about 1.9 billion euros.

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