UAE has pledged its support, along with partners from the US, Japan, and South Korea, to invest up to $275 million in nuclear energy project in Romania.
The UAE’s contribution, facilitated by the Emirates Nuclear Energy Corporation (ENEC), will be directed towards the deployment of a NuScale Small Modular Reactor (SMR) in Romania.
Leveraging its expertise in constructing and operating light water reactors, ENEC will assist with crucial aspects such as procurement, engineering, and project management.
This announcement, made by US President Joe Biden during the G7 Summit in Japan, marks the first major initiative under the Partnership for Accelerating Clean Energy (PACE), a global effort to promote clean energy adoption.
PACE was launched at COP27 in Egypt in November 2022, with the aim of mobilising $100 billion in financing, investments, and other forms of support to deploy 100 new gigawatts of clean energy capacity by 2035.
As a result of decades of collaboration in the energy sector, the UAE and the United States established PACE to accelerate the energy transition globally, fostering economic opportunities and promoting innovative projects and technologies.
The SMR project in Romania will replace a coal plant and provide reliable, clean baseload energy, thereby reducing emissions in heavy-industrial sectors and supporting sustainable economic development.
“As a global leader in large-scale nuclear programs, the UAE brings its expertise to support the deployment of advanced nuclear technologies in Romania,” said Mohamed Ibrahim Al Hammadi, Managing Director & CEO of ENEC.
“ENEC will contribute through the sharing of knowledge, personnel, and technical capabilities, further solidifying its role as a key player in the international nuclear energy landscape.”
ENEC recently signed an MOU with NuclearElectrica in Romania to explore opportunities in advanced nuclear technologies, and related activities for development, deployment, and financing, demonstrating ENEC’s commitment to supporting Romania with these key national infrastructure programs to secure its clean energy transition.
The UAE has delivered one of the most ambitious energy transitions in modern history with key investments in solar and the delivery of the Barakah Nuclear Energy Plant.
Today, Barakah is the largest provider of clean electricity and green certificates in the UAE and the Arab world, generating 30TWh of carbon-free electricity per year from three units, with a total of 40TWh annually with the addition of Unit 4.
