The US Export-Import Bank has signed a loan of $57.3 million to support the expansion of Romania's nuclear plant.

The Export-Import Bank of the United States (EXIM) has approved a loan of USD 57.3 million for EnergoNuclear, a firm owned by Romania’s state-run Nuclearelectrica. This funding will support engineering and project management services for the construction of units 3 and 4 at the Cernavodă nuclear power plant, effectively doubling the plant's capacity.

According to a document reviewed by Profit.ro, the engineering and project management services will be supplied by the US engineering and consultancy group Sargent & Lundy. The group is currently involved with over 90 nuclear units that are operational across North America, as indicated on their website.

EXIM's board of directors sanctioned the loan in September 2023, following a preliminary financing commitment made at the UN climate summit COP27 in November 2022.

The new units at Cernavodă, each with a capacity of 700 MW, are expected to produce around 10 TWh of electricity annually.

Currently, the Cernavodă plant operates two reactors, each rated at 700 MW, with one reactor undergoing refurbishment. This refurbishment of Unit 1, which began in September 2025, aims to extend its operational life by 30 years.

The estimated cost for constructing units 3 and 4 is around EUR 7 billion, with significant funding anticipated from the United States, Canada, and Italy.

Cernavodă's existing units 1 and 2 utilize Canadian-designed CANDU reactors, and the same technology is intended for the new units.

Additionally, Romania is considering the development of a 462 MW nuclear power plant featuring small modular reactors (SMR). However, Prime Minister Ilie Bolojan does not foresee the project being completed in the near future due to its high anticipated cost and complexity, suggesting that the Cernavodă project appears to be more viable.