SeenewsSeenews
Search
Seenews
AlertsSeenewsSeenews
Searchclose
TOPICS
arrow
COUNTRIES
arrow
INDUSTRY
arrow
Economy
arrow
Browse Economy
Mix and match your focus countries with our advanced search
Investments
arrow
Browse Investments
Mix and match your focus countries with our advanced search
Latest in Investments
Deals
arrow
Browse Deals
Mix and match your focus countries with our advanced search
Tech
arrow
Browse Tech
Mix and match your focus countries with our advanced search
Green
arrow
Browse Green
Mix and match your focus countries with our advanced search
0/5
You have 5 free articles left this month
You have 0/5 free articles
Sign up to get 5 more free articles this month
SIGN UP
arrow
LOGIN
arrow

Nuclearelectrica to lend 169 mln euro for Cernavoda NPP expansion

Jun 14, 2024, 12:53:24 PMArticle by Alexandru Cristea
share
June 14 (SeeNews) - Nuclearelectrica [BSE:SNN], the operator of Romania's sole nuclear power plant (NPP) Cernavoda, said it plans to lend up to 841 million lei ($182.59 million/168.97 million euro) to its fully-owned subsidiary EnergoNuclear to finance the development of Units 3 and 4 power plant.

Nuclearelectrica to lend 169 mln euro for Cernavoda NPP expansion
Nuclearelectrica NPPs

Nuclearelectrica proposed to its shareholders to approve the loan, which will be convertible into shares, during their meeting scheduled on July 18 - 19, it said in a statement on Thursday.

EnergoNuclear is a project company created in 2009 for the expansion of the Cernavoda NPP.

In February, 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 the NPP, backed by up to 2 billion euro in financing from Italian state investment agency SACE.

Earlier this week, Nuclearelectrica signed a CAD 360 million deal with Canadian Nuclear Partners for services related to refurbishing Unit 1 of the Cernavoda NPP. Nuclearelectrica, along with Korea Hydro and Nuclear Power Corporation (KHNP), also kicked off the construction of a tritium removal facility (TRF) at the Cernavoda NPP.

In the first trimester of 2024, Nuclearelectrica booked a preliminary net profit of 563.3 ($121.7 million/113.2 million euro) million lei, down by an annual 26.5%, on total revenues of 1.173 billion lei, it said in an unaudited quarterly financial report last month.

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 flat at 45.05 lei as at 1059 CET on June 14 on the Bucharest bourse.

(1 euro = 4.9772 lei)

Your complete guide to the emerging economies of Southeast Europe. From latest news to bespoke research – the big picture at the tip of your fingers.