Romanian state-owned power producer Nuclearelectrica (SNN), which operates the Cernavoda nuclear power plant, has signed a direct contract with Engie Romania worth over RON 250 mln (EUR 51 mln).

The agreement covers electricity deliveries in the second half of this year. Nuclearelectrica hasn’t disclosed the quantity of electricity sold or the price.

The value of this contract is higher than 10% of the company’s turnover in 2019 (RON 2.38 bln).

Nuclearelectrica has been one of the most profitable state-controlled companies in recent years.

The company is listed on the Bucharest Stock Exchange, where about 17.5% of its shares are available for trading while the state holds the remaining 82.5%.

The market capitalization has reached RON 6.59 bln (EUR 1.35 bln) after a 50% increase in its share price in the last 12 months.

(Photo: Pexels)

andrei@romania-insider.com