GDF Suez, RWE and Iberdrola drop out of nuclear project

Since 2008, GDF Suez, RWE and Iberdrola, among other international investors, have been partners with SN Nuclearelectrica for the development of units three and four of the Cernavoda power plant.

Economic and market uncertainties surrounding this project, related for the most part to the present financial crisis, are not reconcilable now with the capital requirements of a new nuclear power project.

Consequently, pursuant to their respective investment policies, GDF Suez, RWE and Iberdrola have decided not to continue their participation in the project.

This decision does not reflect on the technical quality of the project, recently recognised by the European Commission, nor on the commitment of GDF Suez, RWE and Iberdrola to the development of the Romanian energy market.