Nuclearelectrica operates in a context that can be considered favorable, although there is an amount of challenges. However, once they are overcome, the company can strengthen its position in the production of electricity and even the quality of energy consumed in Romania. We discussed with Daniela Lulache, general manager of Nuclearelectrica, about the development of nuclear reactors 3 and 4, about the objectives company targets this year, but also about operational security issues that must be considered.
What is the progress made by the construction of nuclear reactors 3 and 4?
As in any investment project, construction begins after the completion of preparatory steps and Nuclearelectrica is still in the process of finalizing the selection procedure for investors, launched last year, after the approval by the Government of the Strategy of continuing the Project of Units 3 and 4 and approval by the General Meeting of Shareholders. The current phase provides for the negotiation of the Memorandum of joint implementation of the project, i.e. of the essential document in carrying out the project.
Therefore, in such a complex investment project, attention paid to the terms of the negotiation process must be major. Management responsibility is to have a solid and advantageous project. After this step is completed, the Memorandum will be subject to approval by the General Meeting of Shareholders and Investor Approval for a new project company.
We need to understand the importance of the current moment, this being the base for the entire further evolution of the project. We don’t analyze and decide with half measures, but with all the responsibility. The project of Units 3 and 4 will give Romania an European size, understood comprehensively: from standards to be reached to the regional role, whether we like it or not, we support it or not, therefore Nuclearelectrica, active part, wants a project designed in its long-term complexity, bringing implicit benefits for the energy system and consumers.
About the construction we will talk within three years, i.e. after structuring the project financing. Currently, we discuss about determining the coordinates of continuing the project.
What is the relation with Proprietatea Fund, and where does the difference of opinions in terms of developing new capacities come from?
Proprietatea Fund has had a well-defined role in shaping the capital market in Romania by supporting the listing of companies in its portfolio, which is also valid for Nuclearelectrica. Today, the Fund is shareholder and acts in its business interests. Following the same logic thread, relationship with the Proprietatea Fund is absolutely natural. As in any business relationship, everyone pursues its own objectives or the common objectives. It is also natural to have disagreements on some issues, business dynamics is not constant.
What is the role Nuclearelectrica wants to have in energy in the next 10-15 years? Will it invest in research?
Nuclearelectrica has a well-defined long-term strategy, and its central objective is to reach the status of strategic player in the energy market. In the new European context, and I refer to European policies and energy strategy, context joined by Romania, i.e. correction of market failures and achieving standards which include decarbonisation targets, Nuclearelectrica has a number of major advantages: safe and stable source, capable of delivering power according to the new European standards in the long term, from the environmental objectives to the final consumer.
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The full version of this article can be read in printed edition of energynomics.ro Magazine, issued on March 2015.
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