On Tuesday, Natural Resources Minister Jonathan Wilkinson announced a C$3 billion agreement with Romania to develop two more CANDU nuclear reactors.
Nuclearelectrica, a state-owned company, operates two CANDU reactors in Cernavoda, each with a capacity of 706 megawatts, completed in 1996 and 2007.
“This is first and foremost about energy security,” said Romanian Energy Minister Sebastian Burduja at a press conference on Tuesday.
“Indeed not just for Romania but the whole region.”
Wilkinson said in a statement that the new reactors would help Romania eliminate coal power by 2032 and reduce emissions.
Export Development Canada and the Canada Account, which assists export financing in Canada’s national interest, will provide the funds.
In addition, he claimed that it might help Romania become a regional hub for secure energy in the aftermath of what he considered Russian energy intimidation following its invasion of Ukraine.
In June, Romania announced that by September, it expected to have signed contracts to build two nuclear reactors with the goal of having the units operational in 2030 and 2031.
By 2031, the country hopes to increase the percentage of nuclear power in the energy mix from its current 20% to 36%.