World News

Romania Secures $3 Billion Deal with Canada for Nuclear Power Financing

Canada is helping to finance two new nuclear reactors in Romania, which that country’s energy minister says will help diminish Russia’s ability to use its energy exports as a weapon.

Canadian Energy Minister Jonathan Wilkinson signed the $3-billion deal with his Romanian counterpart, Sebastian Burduja, in Ottawa today.

The Canadian financing is limited to what Romania’s nuclear operator spends to buy equipment and expertise from Canadian companies.

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Burduja says the deal is partly about climate change, because it will help ease Romania’s need to burn coal to make electricity.

But he says it is first and foremost about adding new non-Russian energy sources, and Romania is in talks to share with other countries in the region to ease their reliance on Russia, too.

Two Canadian-made Candu reactors already account for one-quarter of Romania’s electricity supply and the two additional reactors will increase that to almost one-third.

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