Czech CEZ decided to exit Romania’s biggest investment project, reactors three and four of the Cernavodă nuclear power station, worth 4 billion euros.
Some of the investors, such as Spain’s Iberdrola, CEZ’s wind
project rivals, are already saying they are ready to increase their
stake. Though many say CEZ’s departure is a surprise, market
sources state there had been talk about it for around two
weeks.
“(…) The project of the two reactors will be delayed a lot, maybe
until 2018, and now there are many projects in the region being
installed much faster. The stake we had was relatively small
anyway, and where CEZ gets involved, it holds control. We’re
shifting to other projects,” says Adrian Borotea, corporate affairs
manager of CEZ Romania.
Ministry sources explain what will happen after CEZ exits. “CEZ’s
stake will be divided among the five investors that are left,
except the state, according to the stake each holds in the project.
Should any of them not be willing to buy, the stake is again
divided by the same principle. Should nobody want to buy, then the
state comes up. Should the state not want to buy, either, a third
company will be attracted. We hope things will be sorted out by
yearend”.