The Export-Import Bank of the United States (EXIM) has approved a financial commitment of up to $99 million for RoPower Nuclear S.A., to finance the development of the Doicesti small modular reactors (SMR) project, the Romanian company announced in a statement.

This commitment is part of an initial $275 million funding package which includes significant contributions from other international institutions, such as the U.S. International Development Finance Corporation (DFC) and private partners.

"The Doicesti SMR project is a strong signal given by Romania together with its strategic partner, the United States of America. A signal for energy independence and security, a signal for innovation, a signal for a green and pragmatic transition from coal to nuclear energy, also a form of band production, a signal based on Romania's competitiveness in the nuclear sector. The financing approved by the U.S. EXIM Bank is a confirmation of the U.S. commitment to this large-scale project which positions Romania among the leaders of cutting-edge nuclear technologies. I am convinced that at the end of the decade we can be among the world's first SMR-powered countries, which will mean a historic opportunity to develop a local supply chain, and Nuclearelectrica has every chance to operate other such projects across the entire region," Energy Minister Sebastian Burduja said in the release.

The project, whose construction will start after the completion of the second Front-End Engineering Design (FEED) phase, will help Romania reduce carbon emissions by approximately 4 million tons annually.

"This financial commitment by EXIM Bank is a vote of confidence not only in Romania's ability to implement state-of-the-art nuclear technologies, but also in the solid partnership between our country and the U.S. The financing will allow us to take decisive steps towards an energetically safer, cleaner and sustainable future, and Romania thus positions itself as an energy innovation leader at regional level," said Nuclearelectrica CEO Cosmin Ghita.

The EXIM Bank financing is essential to the project's advancement, supporting critical activities such as site assessment, obtaining regulatory approvals and the completion of detailed engineering work. This positions Romania as a regional leader in clean energy innovation, contributing to the EU's ambitious climate goals.

The Doicesti project is expected to generate over 2,000 new jobs during the construction period and over 230 permanent jobs for the operation of the plant, plus thousands more jobs in related industries.

The lifetime of the Doicesti-based new SMR power plant is over 60 years, from the commissioning planned for the end of the current decade. The project is a generational one that will produce clean, safe and carbon-free energy, and a key point in Romania's commitment to triple its energy generation capacity from nuclear sources by 2050. AGERPRES (RO - editor: Andreea Marinescu; EN - editor: Simona Klodnischi)