Nuclearelectrica to contribute 2 million euros to two nuclear reactors


The extraordinary meeting of the shareholders of state-owned Nuclearelectrica nuclear power company approved on Friday the company’s contribution of a maximum of two million euros to a contractor company for building the 3rd and 4th reactors of the Cernavoda (southeastern Romania) power plant; the company informed the Bucharest Stock Exchange on Monday about this decision.

The report mentions the establishment of an independent energy producer company within a greenfield/brownfield type project; Nuclearelectrica is authorized to participate with movable and immovable property assets to be evaluated by an independent evaluator under the law, and/or with cash as necessary, up to 2 million euros, within the approved budget; the selected private investor will contribute cash.

The meeting also approved the launching of a competition for selecting the private investor for a joint venture to implement the project of the 3rd and 4th reactors in Cernavoda, and the appointment of a negotiation committee.

The authors of the strategy for this project mentioned the need of state support, given the high value of the investment and the current context of the energy market, unfavourable to big investments.

The Romanian state is to hold a maximum of 49 percent of this joint venture, with the total participation of the state and of Nuclearelectrica to remain above 30 percent.