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Romania’s Nuclearelectrica to invest 287.3 mln lei (63 mln euro) in 2017
Nuclearelectrica [BSE:SNN], the operator of Romania's sole nuclear power plant Cernavoda, says it plans to invest 287.3 million lei ($66 million/63 million euro) next year, seenews.com informs.
Some 87% of the total investment will be directed into the maintenance and modernization of the two nuclear reactors at Cernavoda, Nuclearelectrica said in its budget plan posted on its website on Wednesday and pending approval from the company's board.
Nuclearelectrica will continue the construction of spent fuel storage facility as well as nvest in the detritiation facility and in general retrofits. The company also plans to complete studies on extending the life of Unit 1 by re-tubing and by upgrading its main systems.
Nuclearelectrca will also make 13.2 million lei investments at its Pitesti Nuclear Fuel Factory, its budget plan showed.
The company posted a 64.5 million lei net profit in the first nine months of 2016, down 51% year-on-year, as revenues from electricity sales decreased by 5% to 1.15 billion lei. The drop was mainly a result of a 4% decrease in the volume of sold electricity caused by a longer-than-usual planned outage of Unit 1 this year, Nuclearelectrica said in November.
Also in November, Nuclearelectrica had to disconnect one of Cernavoda's two units from the grid due to damage to a power line caused by bad weather. The outage lasted for three days.
Blue-chip Nuclearelectrica was trading up 0.21% at 4.84 lei as at 0935 CET on Thursday on the Bucharest Stock Exchange.
The Cernavoda plant is located in southeastern Romania. The plant's two reactors of 700 megawatts each meet roughly a fifth of the country's power needs.