Fluor-led Joint Venture Receives Limited Notice to Proceed for Expansion of Nuclear Power Plant in Romania
Fluor (NYSE: FLR) announced that its joint venture has received a notice to proceed for the design phase of Units 3 & 4 at the Cernavoda Nuclear Power Plant in Romania. The contract was signed at the UN COP29 conference in Baku, Azerbaijan. The Fluor-led JV includes AtkinsRéalis, Sargent & Lundy, and Ansaldo Nucleare. The Cernavoda plant currently produces 1.4 gigawatts with two units, meeting 20% of Romania's electricity demand. The addition of Units 3 & 4 will nearly double the power output. The JV will provide engineering plans, cost estimates, schedules, and safety assessment reports necessary for a final investment decision.
Fluor (NYSE: FLR) ha annunciato che la sua joint venture ha ricevuto un avviso per procedere alla fase di progettazione delle Unità 3 e 4 della Centralina Nucleare di Cernavoda in Romania. Il contratto è stato firmato durante la conferenza UN COP29 a Baku, in Azerbaigian. La joint venture guidata da Fluor include AtkinsRéalis, Sargent & Lundy e Ansaldo Nucleare. Attualmente, la centrale di Cernavoda produce 1,4 gigawatt con due unità, soddisfacendo il 20% della domanda di elettricità della Romania. L'aggiunta delle Unità 3 e 4 raddoppierà quasi la produzione di energia. La joint venture fornirà piani ingegneristici, stime dei costi, programmi e rapporti di valutazione della sicurezza necessari per una decisione finale di investimento.
Fluor (NYSE: FLR) anunció que su empresa conjunta ha recibido un aviso para proceder con la fase de diseño de las Unidades 3 y 4 de la Central Nuclear de Cernavoda en Rumanía. El contrato se firmó en la conferencia de la UN COP29 en Bakú, Azerbaiyán. La empresa conjunta liderada por Fluor incluye a AtkinsRéalis, Sargent & Lundy y Ansaldo Nucleare. Actualmente, la planta de Cernavoda produce 1,4 gigavatios con dos unidades, cubriendo el 20% de la demanda eléctrica de Rumanía. La adición de las Unidades 3 y 4 casi duplicará la producción de energía. La empresa conjunta proporcionará planes de ingeniería, estimaciones de costos, cronogramas e informes de evaluación de seguridad necesarios para una decisión final de inversión.
플루어 (NYSE: FLR)는 자사의 합작 투자자가 루마니아 체르나보다 원자력 발전소의 3호기 및 4호기 설계 단계 착수를 위한 통지를 받았다고 발표했습니다. 계약은 아제르바이잔 바쿠에서 열린 UN COP29 회의에서 체결되었습니다. 플루어가 이끄는 합작 투자에는 애트킨스레알리스, 사전트 & 런디, 안살도 누클레어가 포함됩니다. 현재 체르나보다 발전소는 2개의 단위로 1.4기가와트의 전력을 생산하며, 이는 루마니아 전력 수요의 20%를 충족합니다. 3호기와 4호기를 추가하면 전력 생산량이 거의 두 배로 늘어납니다. 이 합작 투자는 최종 투자 결정을 위해 필요한 공학 계획, 비용 추정, 일정 및 안전 평가 보고서를 제공할 것입니다.
Fluor (NYSE: FLR) a annoncé que son coentreprise a reçu un avis de commencer la phase de conception des unités 3 et 4 de la centrale nucléaire de Cernavoda en Roumanie. Le contrat a été signé lors de la conférence UN COP29 à Bakou, en Azerbaïdjan. La coentreprise dirigée par Fluor comprend AtkinsRéalis, Sargent & Lundy et Ansaldo Nucleare. La centrale de Cernavoda produit actuellement 1,4 gigawatts avec deux unités, ce qui représente 20 % de la demande électrique de la Roumanie. L'ajout des unités 3 et 4 va presque doubler la production d'électricité. La coentreprise fournira des plans d'ingénierie, des estimations de coûts, des calendriers et des rapports d'évaluation de la sécurité nécessaires à une décision finale d'investissement.
Fluor (NYSE: FLR) gab bekannt, dass sein Joint Venture eine Aufforderung zur Durchführung der Entwurfsphase der Einheiten 3 und 4 im Kernkraftwerk Cernavoda in Rumänien erhalten hat. Der Vertrag wurde auf der UN COP29-Konferenz in Baku, Aserbaidschan, unterzeichnet. Das von Fluor geführte JV umfasst AtkinsRéalis, Sargent & Lundy und Ansaldo Nucleare. Das Kraftwerk Cernavoda produziert derzeit 1,4 Gigawatt mit zwei Einheiten und deckt 20 % des Strombedarfs Rumäniens. Die Hinzufügung der Einheiten 3 und 4 wird die Energieerzeugung nahezu verdoppeln. Das JV wird Ingenieurpläne, Kostenschätzungen, Zeitpläne und Sicherheitsbewertungsberichte bereitstellen, die für eine endgültige Investitionsentscheidung erforderlich sind.
- Contract award for major nuclear power plant expansion project
- Strategic positioning in the growing nuclear energy sector
- Partnership with established industry players in the joint venture
- Project backed by US-Romania bilateral cooperation
- notice to proceed only covers design phase, not full construction
- Final investment decision still pending, indicating project uncertainty
Insights
This LNTP marks a strategic advancement in Romania's nuclear infrastructure expansion. The project's scope to double Cernavoda's power output from
The design phase contract positions Fluor advantageously for the potential full construction contract, though final investment decision remains pending. While immediate financial impact is moderate, successful execution could lead to a multi-billion dollar construction phase. The presence of high-level government officials from both the US and Romania underscores the project's geopolitical significance and increases likelihood of project completion.
The expansion aligns with global nuclear power renaissance trends, particularly in Eastern Europe, offering Fluor potential follow-on opportunities in the region. Current revenue contribution will be modest but strategic value is substantial.
This development carries significant implications for Eastern European energy markets. Romania's commitment to nuclear expansion, potentially doubling capacity at Cernavoda from
The US-Romania cooperation on this project, evidenced by high-level diplomatic presence, suggests potential acceleration of similar nuclear projects in neighboring countries. For Fluor, this positions them as a key player in the emerging Eastern European nuclear renaissance, potentially leading to additional contracts in the region.
Pierre Bechelany, Fluor’s President of LNG & Power, speaking today at the United Nations
The event was attended by Romanian Minister of Energy Sebastian Burduja and
“Nuclear energy is a safe and clean source of reliable baseload electricity, which is critically important to meeting growing power demands globally,” said Pierre Bechelany, President of Fluor’s LNG & Power business, who attended the signing. “Fluor is pleased to be a part of such an important project for
The Cernavoda Nuclear Power Plant, operated by SN Nuclearelectrica, currently produces about 1.4 gigawatts of electricity with two operational units, meeting approximately
As part of the LNTP, Fluor and its JV partners will provide information necessary for a final investment decision to be made before construction of Units 3 & 4 can proceed. This includes the development of engineering/construction plans, an updated cost estimate and schedule and preliminary nuclear safety assessment reports and engineering documents.
About Fluor Corporation
Fluor Corporation (NYSE: FLR) is building a better world by applying world-class expertise to solve its clients’ greatest challenges. Fluor’s nearly 34,000 employees provide professional and technical solutions that deliver safe, well-executed, capital-efficient projects to clients around the world. Fluor had revenue of
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Brett Turner
Media Relations
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Jason Landkamer
Investor Relations
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Source: Fluor Corporation
FAQ
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