Nuclearelectrica in 510 Mln Euro Deal With Candu Energy, CCC

Romania's Nuclearelectrica [BSE:SNN] said that it signed a new contract worth CAD 750 million ($544.3 million/510.2 million euro) with Canada's Candu Energy and Canadian Commercial Corporation (CCC) for works to extend the life of Unit 1 of the Cernavoda nuclear power plant (NPP).

The contract will build on a series of previous pre-project contracts for the refurbishment of Unit 1, Nuclearelectrica, the operator of Cernavoda NPP said in a statement on Tuesday.

"As Unit 1 is a strategic pillar for Romania’s energy stability, we are proud to conduct this project at excellent standards and continue to offer clean energy for the following 30 years after its refurbishment. Moreover, the extension of the lifetime of Unit 1 will continue to bring multiple benefits to Romania: preserving high quality jobs, as well as creating new ones, investments in the community, an important contribution to local and national budget, as 2 well as projects for the local supply chain, as part of our vision to create a sustainable future for the next generations," said Nuclearelectrica CEO, Cosmin Ghita.

Unit 1 of the Cernavoda NPP entered operation in 1996 and has an installed capacity of 700 MWe. Over its 27 years of existence, it has delivered some 138.4 TW of electricity. After the refurbishment process will be completed in 2029, Unit 1 will continue producing some 5 TW of energy per year.

Candu Energy is a subsidiary of Canadian multinational engineering, design, planning, architectural design, project management and consulting services group SNC-Lavalin, which operates under the trading name AtkinsRealis.

Cernavoda, Romania's sole nuclear power plant, generates roughly a fifth of the country's electricity output.

Blue-chip Nuclearelectrica's shares traded 0.21% lower at 47.6 lei ($10.21/9.58 euro) as at 1040 CET on November 8 on the Bucharest bourse.

(SeeNews, November 8, 2023) 

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