US EXIM backs Romania's nuclear expansion with $57M loan

What's the deal? The Export-Import Bank of the United States (US EXIM) has signed a loan agreement of up to $57.3M with EnergoNuclearDealroom has a profile for this one. Try Dealroom →, the project company developing Cernavoda nuclear units 3 and 4 in Romania. The loan will finance engineering and project management services for the two new reactors.

EnergoNuclear is fully controlled by Nuclearelectrica, which is part of the deal as guarantor. J.P. Morgan served as documentation agent, while Romanian firm RTPR, working with A&O Shearman, advised US EXIM. Hunton Andrews Kurth reportedly advised EnergoNuclear.

Why now? Romania is betting big on nuclear to meet its energy security and climate goals. Units 3 and 4 at Cernavoda are expected to generate roughly 10 terawatt-hours per year — doubling the country's nuclear energy production and its CO2-free energy output.

The project aligns with broader Western efforts to support allied nations' energy infrastructure, particularly in Eastern Europe, where reducing dependence on Russian energy remains a strategic priority.

What could go wrong? Nuclear construction projects are notoriously prone to delays and cost overruns. The $57M loan covers engineering and project management — early-stage work — meaning far larger financing rounds will be needed to bring the reactors online.

The signal: EnergoNuclear, classified as an early-growth-stage company on Dealroom, securing US government-backed financing underscores how state export credit agencies are stepping in where private capital remains cautious on nuclear new-builds. With its parent Nuclearelectrica already at late growth stage and publicly listed, the Cernavoda expansion has a more credible institutional backbone than many greenfield nuclear ventures — but the $57M tranche is a fraction of the multi-billion-dollar total needed, making future financing milestones the real litmus test.

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