GDF Suez, RWE and Iberdrola have decided not to continue to participate in the Cernavoda nuclear project in Romania.
Since 2008, GDF Suez, RWE and Iberdrola, among other international investors, have been partners with SN Nuclearelectrica for the development of units 3 and 4 of the Cernavoda power plant.
In a statement, RWE said: "Economic and market uncertainties surrounding this project, related for the most part to the present financial crisis, are not reconcilable now with the capital requirements of a new nuclear power project.
"Consequently, pursuant to their respective investment policies, GDF Suez, RWE and Iberdrola have decided, not to continue their participation in the project."
This decision does not reflect on the technical quality of the project, recently recognized by the European Commission, nor on the commitment of GDF Suez, RWE and Iberdrola to the development of the Romanian energy market, added the statement. GDF Suez, RWE and Iberdrola will furthermore pursue their commitment to develop new nuclear power projects abroad.