Romanian state-owned power producer Nuclearelectrica only managed to carry out 27.6% of the major investment objectives it had in its 2017 program. It spent 40% of the investment budget.

Nuclearelectrica is thus proposing to distribute over 90% of its 2017 net profit as dividends, local Hotnews.ro reported. The company posted a net profit of EUR 66.3 million in 2017.

Most of Nuclearelectrica’s investment projects were delayed because of acquisition procedures and of slow implementation. Among its major medium and long-term investment projects, Nuclearelectrica has included upgrading the technology of the Cernavoda Unit 1 nuclear power plan, with a required EUR 1.5 billion. The company needs to preserve its financing sources to carry out these significant investments.

editor@romania-insider.com