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Romania: Nuclearelectrica and Three Seas Initiative Investment Fund signed Letter of Intent

, SEE Energy News

Nuclearelectrica, the operator of the Romanian nuclear power plant Cernavoda, signed a Letter of Intent with the Three Seas Initiative Investment Fund to explore the possibility of a joint venture in the renewable energy production sector in Romania, in order to achieve common strategic objectives.

Nuclearelectrica is seeking opportunities to develop projects that would ensure an increase in its contribution to clean energy production in Romania. The company is generating 33% of Romania’s clean energy and has strategic investment projects which will increase its clean energy contribution to 66% by 2030

The Three Seas Initiative Investment Fund is interested to further identify and partner in complementary opportunities to support energy transition and energy security in the Three Seas region.

The Fund has made two investments in renewable energy with significant development portfolios in the region, including Romania. The Fund is not permitted to make investments in the nuclear sector and any partnership with Nuclearelectrica would be in a separate ring-fenced entity focused on renewable energy assets.

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