The consortium made up of advisory firm Deloitte &Touche and Institutul pentru Studii si Proiectari Energetice (Energy Research and Design Institute- ISPE) won the tender for providing financial consultancy for the project linked to Unit III of Cernavoda-based nuclear power station.
The project is assessed at 1 billion dollars, while the value of the consulting contract, which is now negotiated, should be of about 700,000-800,000 dollars, sources close to the tender say.
"Deloitte &Touche and ISPE were designated as winners of the tender for the financial consultancy for the project linked to Unit III of the Cernavoda plant," Teodor Chirica, deputy general manager of Nuclearelectrica, announced on Thursday.
Sources close to the bidding process stated that ISPE had been the only local consultant involved in the tender, as it had played an important part in the project of the power station in Cernavoda, the only nuclear power station based on an Western concept in the Central and Eastern Europe. The institute was also approached by the French at BNP Paribas, who were also interested in providing advisory services for the project.
Nuclearelectrica demanded that bids should be as close to 500,000 dollars as possible, according to the above-mentioned sources.
Overall, a number of five sets of papers were submitted by some consulting firms, including other Fat Four companies (the four largest accounting and financial consulting and audit firms) besides Deloitte & Touche, such as PricewaterhouseCoopers.
The consultant will have to set the financing plan for this project based on a public-private partnership system, to review the feasibility study drawn up last year, to find the best financing solution without attracting the sovereign guarantees of the state and to find partners to fund the project. Its fee will be paid from special funds of the state budget.
The Cernavoda power station is equipped with five CANDU-type nuclear reactors, of Canadian design, with only one of them operational since 1996.
With an installed power of over 700 mW, Unit I of the power station supplies 11% of the total national power production. The second unit is now being finalised and will be connected to the national power system in 2007.
The first two reactors of the power station were largely financed by the Romanian State, but due to the high financial costs (billions of dollars), some private investors need to be drawn in.
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