Candu Energy Inc. Welcomes Romania-China Letter of Intent on Nuclear Investment

MISSISSAUGA, ON, Nov. 27, 2013 /CNW/ - Candu Energy Inc. is pleased that a Letter of Intent has been signed for investment in and development of two additional nuclear units at the Cernavoda site between Romanian and Chinese companies, Societatea Nationala Nuclearelectrica (SNN)  and China General Nuclear Power Group (CGN)

"Candu Energy is ready to participate in the delivery of these two CANDU nuclear power plants," said Ala Alizadeh, Candu Energy Senior Vice President, Marketing and Business Development. "We have strong ties in Romania through our previous CANDU projects there and are excited about the opportunity to deliver two more units."

Candu Energy is encouraged by meetings this week in Romania with China Nuclear Power Engineering Company, Ltd (CNPEC) and welcomes their upcoming visit to Canada.

Romania already has two CANDU 6 nuclear reactors, which went into service in 1996 and 2007 respectively. Together, they are the largest power producer in the country, accounting for about 20 percent of Romania's energy supply. Units 1 and 2 have lifetime capacity factors of 89.6% and 93.6% respectively.

About Candu Energy Inc.

Candu Energy Inc. is a leading full-service nuclear technology company providing nuclear power reactors and nuclear products and services to customers worldwide. Candu Energy's 1,400 highly skilled employees design and deliver state-of-the-art CANDU® reactors, carry out life extension projects, offer operations, maintenance and plant life management services for existing nuclear power stations.

CANDU reactors use natural uranium fuel, heavy-water moderator and heavy-water coolant in a pressure tube design. They can be refuelled on power and have one of the highest lifetime capacity factors among the world's reactors. CANDU reactors are ideal for small and medium electric grids; the newest designs are equipped with a number of safety enhancements to meet the latest Canadian and international standards, including post-Fukushima enhancements. They benefit from the CANDU 6 experience of proven design, construction and operation.

Candu Energy is a wholly-owned subsidiary of SNC-Lavalin Group Inc. (TSX: SNC). For more information, visit www.candu.com

SOURCE: Candu Energy Inc.