UAE, global partners pledge $275 million for Romanian nuclear project

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The UAE has joined the US, Japan and South Korea to commit up to $275 million towards nuclear energy in Romania.

The amount will go towards deploying a NuScale Small Modular Reactor (SMR) in the European nation.

The UAE's engagement comes through the Emirates Nuclear Energy Corporation (ENEC), which will leverage its significant expertise in constructing and operating light water reactors and support key procurement, engineering and project management.

It's the first major nuclear energy initiative to be supported under the US-UAE Partnership for Accelerating Clean Energy (PACE), which was launched at the COP27 in Egypt in November 2022.

PACE is set to catalyze $100 billion in financing and supporting the deployment of 100 gigawatts of clean energy globally by 2035.

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