POP & PARTNERS has advised the largest nuclear power operator in China and the largest nuclear power constructor worldwide China General Nuclear Power Group (CGN) throughout the entire process of negotiation of the Investors Agreement in the preliminary form (PIA) regarding the continuation of the Cernavoda Nuclear Power Plant Units 3 and 4 Project. The signing by the parties involved in the continuation of the Cernavoda NPP Units 3 and 4 Project of the Investors Agreement in the preliminary form, in compliance with the Revised Strategy, represents an essential stage of the selection process launched in 2014 from the technical and operational point of view.
The Investors Agreement in the preliminary form envisages the set-up of the project company (JVCO) having as limited aim to be the only technical and operational platform for the subsequent development of the Project.
“Reaching a consensus in the negotiation process, mutually advantageous for both parties, realized by the approval of SNN’s shareholders of the Investors’ Agreement in the preliminary form, is in actuality the effective initiation of the concrete measures to continue and develop Cernavoda NPP Units 3 and 4. During the initial two-year duration of the new project company we will define and structure the model to continue the project, being in fact the first essential stage prior to the construction of the two units”, said Anton Anton, the Minister of Energy.
Mr. Bian Shuming, General Manager of the CGN Romania Nuclear Power Company, emphasized that the signing of the PIA today marked a new stage of development for the bilateral cooperation between CGN and SNN. Going forward, CGN is fully committed to working closely together with its Romanian partner on the successful development of the next phases of the Project in line with the agreed principles.