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Nuclearelectrica, the first Romanian company to join the World Economic Forum


Romania's only nuclear energy producer, the National Company Nuclearelectrica SA (SNN), is the first Romanian company to join the World Economic Forum, SNN announced today in a statement to the Bucharest Stock Exchange.

SNN will be a WEF member in two strategic areas, specifically the Platform for Shaping the Future of Energy, Materials and Infrastructure, and the Partnering Against Corruption Initiative, which support the company's strategic vision of building a sustainable future for tomorrow's generation, providing clean energy at the highest standards of excellence.

"We greatly appreciate the partnership with the World Economic Forum and look forward to a beneficial and fruitful cooperation. SNN aims to develop its integrated core expertise, to become an active part in capturing and generating development initiatives with a significant economic, social and organisational impact, in order to assess new opportunities for cooperation, expansion and development. Having in view our major investment projects, we are also looking for resilience and stronger economic and financial know-how. As both the World Economic Forum and SNN are interested in promoting carbon emission reduction programs, we are committed to capitalizing on the innovation trend and clean energy solutions," said Nuclearelectrica CEO Cosmin Ghita.

25 years after the commissioning of Romania's first nuclear reactor, Nuclearelectrica covers approximately 20 percent of the domestic consumption demand and 33 percent of the country's clean energy output. Nuclearelectrica supplied over 200 million MWh into the national grid at a capacity factor of over 90%, preventing the release into the atmosphere of over 170 million tons of CO2, the cited release states.

SN Nuclearelectrica SA is under the coordination of the Energy Ministry. As of 2013, the company is listed on the Bucharest Stock Exchange, having the Romanian state as main shareholder with 82.49 percent of the stake, while other shareholders control 17.50 percent thereof. SNN has two branches: the Cernavoda nuclear power plant, which operates Units 1 and 2, and the Pitesti Nuclear Fuel Plant.