Nuclearelectrica signs 243 mln euro NPP unit overhaul services deal

CNPSA will provide project management services, technical assistance, consultancy and staff training for the planned refurbishing of Unit 1, Nuclearelectrica said in a press release on Tuesday. CNPSA is the Romanian subsidiary of Canada's Laurentis Energy Partners, itself a wholly-owned subsidiary of Ontario Power Generation.

The current agreement builds on an earlier one signed between Nuclearelectrica and Laurentis in 2021 for the development of a programme to conserve reactor water systems during the refurbishing, as per the press release.

In 2022, Nuclearelectrica’s shareholders approved a 1.85 billion euro project for the overhaul of Cernavoda’s Unit 1.

In February of this year, Italian power engineering company Ansaldo Energia said that its unit Ansaldo Nucleare has agreed to overhaul Unit 1 and help develop two more units at Romania’s NPP, backed by up to 2 billion euro in financing from Italian state investment agency SACE.

Cernavoda, Romania's sole nuclear power plant, generates roughly a fifth of the country's electricity output.

The Romanian state, through the ministry of energy, owns an 82.5% stake in Nuclearelectrica, while the remainder is in free float on the Bucharest Stock Exchange.

Blue-chip Nuclearelectrica's shares traded 0.22% lower at 45.15 lei as at 1027 CET on June 12 on the Bucharest bourse.

(1 euro = 4.9767 lei)