August 25 (SeeNews) - Nuclearelectrica [BSE:SNN], the operator of Romania's sole nuclear power plant Cernavoda, has named Cosmin Ghita as interim CEO for four months, to replace Daniela Lulache whose mandate expires soon and cannot be extended.
Ghita, 28, was nominated for the position of CEO by the Nomination and Remuneration Committee within Nuclearelectrica's board of directors, the company said late on Thursday in a statement filed with the Bucharest Stock Exchange.
Since June, Ghita is also the president of the administration council of Romania's National Uranium Company (CNU).
Lulache has been Nuclearelectrica's CEO since 2013 and her mandate expires on September 1.
On Thursday, one of Cernavoda's two units was disconnected from the grid due to a problem with the light water supply system, posing no danger for the personnel of the power plant, the public or the environment.
At the end of July, the Unit 2 of Cernavoda NPP was reconnected to the grid after disconnecting two times in as many days.
Nuclearelectrica's first-half net profit soared to 133.7 million lei ($34.2 million/29.2 million euro) from 1.73 million lei in the year-ago period driven by increased electricity output and sales. Its electricity sales generated revenues of 869.7 million lei in the first half, up 20% year-on-year.
The Cernavoda power plant, located in southeastern Romania, has two units of 700 megawatts each, which cover roughly a fifth of the country's power needs.
In February, Romania's energy ministry said that it intends to speed up negotiations with China General Nuclear Power Corporation (CGN) on the construction of reactors 3 and 4 of Cernavoda NPP. The negotiations with CGN were extended three times last year.
In December 2015, Nuclearelectrica said it expects to set up a joint venture with CGN in 2016 and begin the construction of a pair of new units at the power plant, a project estimated to cost 6 billion euro ($6.5 billion) at the time, in two to three years. Under the memorandum of understanding on the project, the Chinese investor will hold a stake of at least 51% of the joint venture company that will do the job, while Nuclearelectrica will own at least 30%.
Nuclearelectrica shares traded 0.55% higher at 7.32 lei by 1157 CET on the Bucharest bourse.
The energy ministry holds a 82.4% stake in the company.
(1 euro =4.5869 Romanian lei)