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Romania's Nuclearelectrica, General Electric sign $120 mln contract for NPP maintenance

Romania's Nuclearelectrica, General Electric sign $120 mln contract for NPP maintenance Nuclearelectrica NPPs

BUCHAREST (Romania), March 27 (SeeNews) - Nuclearelectrica [BSE:SNN], the operator of Romania's sole nuclear power plant Cernavoda, has signed a $120 million (106 million euro) framework agreement with General Electric Global Services/GE Global Parts & Products for the maintenance of the NPP's units 1 and 2.

Based on the eight-year agreement, the two companies will provide complete maintenance and repair services for the turbine, electric generator, valves and auxiliary systems of  Cernavoda NPP Units 1 and 2, Nuclearelectrica said in a statement filed with the Bucharest Stock Exchange, BVB, on Tuesday evening.

Earlier this month, Nuclearelectrica signed a memorandum of understanding with U.S.-based NuScale Power to explore potential uses of small modular reactors (SMRs) in Romania.

The agreement aims to evaluate the development, licensing and construction of a NuScale SMR for a potential similar long-term solution in Romania, Nuclearelectrica and NuScale said at the time.

The Cernavoda plant, located in southeastern Romania, has two reactors of 700 megawatts each, which meet roughly a fifth of the country's electricity needs.

Nuclearelectrica shares traded 0.21% higher at 9.76 lei ($2.32/2.05 euro) by 0933 CET on Wednesday on the Bucharest Stock Exchange.

Romania's energy ministry owns a 82.49% stake in Nuclearelectrica.

General Electric Global Services is the Romanian subsidiary of American multinational conglomerate General Electric, while GE Global Parts & Products is registered in Switzerland.

Incorporated in New York and headquartered in Boston. General Electric operates in various segments such as aviation, healthcare, power, renewable energy, digital industry, additive manufacturing, venture capital and finance, lighting, and oil and gas.

($=0.8831 euro)