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Nuclearelectrica planned investments of 1.7 billion lei until 2019

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Nuclearelectrica, the company which manages the nuclear unit in Cernavoda planned investments of 1.7 billion lei between 2017 – 2019 shows a report sent to the BVB.

Thus, the company planned investments of 440.7 million lei this year and 554.3 million lei next year. For 2019, Nuclearelectrica estimates investments of 701.4 million lei.

‘Most important projects of investment from the perspectiveof the investment effort for this period of time are: the de-tritium installation, with a total estimated value of 170 million euro in which case a final decision must be taken in the period to come; the re-technologisation project of unit 1 with an estimated value of 1.2- 1.5 billion euro’ Nuclearelectrica shows.

Other investments will be made to build the intermediary storage house of burnt fuel as well as the initial contribution to the social capital of the joint-venture company for the project of unit 3 and 4.

‘On short and medium term SNN must finance important projects of investments, besides the investment of maintenance of the existing operating capacity and support of the service of debt to the loans needed for the finalisation of unit 2’ the document says.

On 31 December 2016 Nuclearelectrica had ‘other reserves representing own sources of financing’ worth 128.9 million lei, namely the profit of the previous years’ other reserves representing own sources of financing.

Similarly, at the end of last year, the company had 3.66 billion lei in their accounts of result reported cumulated, namely the profit of the previous years not distributed for dividends and kept as savings.

Nuclearelectrica had, at the end of last year money worth 263.7 million lei, under the form of cash and cash equivalent.

This sum is supplemented by banking deposits with maturity of over three months worth 1.24 billion lei. Thus, the balance of the money plus investments for short term under the form of banking deposits on 31December 2016 is 1.5 billion lei.

The company made last year a net profit of 112.4 million lei, as the electricity production slowed down against 2015, at 10,388 GWh.

The two units in Cernavoda ensure almost 20% of the total production of electricity of the country.

The majority shareholder of the company is the Romanian state through the ministry of energy with a share of 82.49%.

Nuclearelectrica is listed on BVB and has a market value of 2.1 billin lei (473 million euro)

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