US Ex-Im financing set to back Romania’s Cernavodă Units 3 and 4 expansion

Romania’s push to expand nuclear generation is moving closer to implementation, with the US Export-Import Bank preparing to finalize a financing agreement with EnergoNuclear, a subsidiary fully owned by Nuclearelectrica. The expected funding marks a tangible step for the Cernavodă expansion plan and highlights how international financing can accelerate large, low-carbon infrastructure projects.

The deal is expected to provide up to $57.2 million in direct funding support. It is tied directly to the long-awaited construction of Units 3 and 4 at the project site referenced in the original report, which carries an estimated total investment of €6 billion to €7 billion.

Why Units 3 and 4 matter for Romania’s power mix

Once completed, the new reactors are expected to significantly increase Romania’s baseload electricity generation. That shift is also intended to reduce reliance on fossil fuels, aligning the project with broader efforts to diversify the generation mix through large-scale, low-carbon capacity.

The US-backed loan had already received approval in September 2023, reflecting continuing strategic cooperation between Romania and the United States in nuclear energy. For investors and policymakers, that prior approval suggests momentum behind financing arrangements that can help manage timelines for capital-intensive projects.

Overall, the move supports wider objectives around energy security and generation diversification, using external financing to advance major nuclear infrastructure at a time when long-term planning for low-carbon baseload power remains a central policy priority.