Spanish utility Iberdrola, France-based GDF Suez and German power group RWE have planned to pull out of the Cernavoda nuclear power project in Romania.

The companies, among other international investors, have been partners with SN Nuclearelectrica for the development of units 3 and 4 of the nuclear plant since 2008.

According to the companies, economic and market uncertainties surrounding this project are not reconcilable now with the capital requirements of a new nuclear power project.

Because of the uncertainty about power demand growth in the future and lack of a clear regulatory framework, the companies decided not to continue their participation in the project.

RWE, Iberdrola and GDF Suez will pursue their commitment to develop new nuclear power projects abroad.