Romania’s Nuclearelectrica establishes subsidiary for uranium concentrate processing30 September 2021
Romanian nuclear utility Societatea Na?ionala Nuclearelectrica (SNN) has informed shareholders and investors that on 24 September it had established SNN subsidiary, Uranium Concentrate Processing Factory-Feldioara.
This followed the conclusion between SNN and Compania Na?ionala Uraniului (CNU) of the sale-purchase contract of some assets within the uranium concentrate processing line from CNU Feldioara Branch in March. The new subsidiary will have as its main activity the processing of nuclear fuels.
"SNN aims through its investments to provide the necessary infrastructure for optimal processing of raw materials, to maintain and strengthen the integrated fuel cycle to support the company's long-term investment projects, which are aspects that give the company a competitive advantage. and an integrated approach to nuclear energy production”, according to information published by the Bucharest Stock Exchange.
SNN wants to integrate the manufacture of Candu type nuclear fuel and said in March that it planned to purchase land, buildings, special constructions, installations, machinery and equipment in Feldioara, excluding the uranium mining activity there. SNN was expected to acquire the assets for €9 million ($10.6m). The deal also aims to ensure the optimal operation of SNN’s Fabrica de Combustibil Nuclear fuel fabrication plant in Pitesti (FCN Pitesti) and of the Cernavoda NPP, given plans to expand the plant, and would help maintain the nuclear fuel cycle at an advantageous transaction cost.
SNN reported for the first part of the year a net profit of RON 385.4 million ($90.35m) up 12.3% compared with the similar period of the previous year. Operating revenues rose by almost 17% to RON1.38 billion.
Romania’s Cernavoda NPP currently comprises two Candu 6 reactors supplied by Atomic Energy of Canada Ltd (AECL), now Candu Energy, and built by a Canadian-Italian consortium of AECL and Ansaldo. The site was originally planned for five units. Cernavoda 1 started up in 1996, but work on the others was suspended in 1991. Cernavoda 2 was subsequently completed and began operation in 2007. Both units are 700MWe Candu pressurised heavy water reactors, meeting around 20% of Romania's electricity needs. Romania is now planning to build two more units at the site.