GDF Suez, Iberdrola, RWE Quit Romanian Nuclear Venture
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GDF Suez SA, RWE AG and Iberdrola SA have pulled out of a 4 billion-euro ($5.4 billion) project to develop two nuclear reactors in Romania because of unclear regulations and doubts about future power demand.
“Economic and market uncertainties surrounding this project, related for the most part to the present financial crisis, are not now reconcilable with the capital requirements of a new nuclear power project,” the three utilities said in a joint statement released today.