The shareholders of Nuclearelectrica (SNN) decided on Friday to grant a maximum loan ceiling of 243 million dollars to the Doicești reactor project company, after they hesitated to vote on a similar proposal in April. Thus, during the Extraordinary General Meeting (EGM on Friday, after the necessary votes were not met on Thursday) SNN decided to grant RoPower Nuclear the loan in the form of a capital increase only if the project company will not succeed in attracting other investors or other loans.
Thus, the shareholders decided “to approve the increase in the ceiling of the loan contracted by RoPower Nuclear, as a borrower, from SNN, as a lender/creditor, pursuant to the Framework Loan Agreement no. 1 dated 16.08.2023, up to the concurrence of the amount of USD 243,000,000, and the approval of the conclusion, by RoPower Nuclear with SNN, of Additional Act no. 3 to the Loan Framework Agreement no. 1 dated 16.08.2023, with the mention that access to this loan will be done by RoPower Nuclear S.A. only to the extent that it will not be possible to secure the financing of the Project from other sources (share capital, generated by changing the RoPower Nuclear shareholding structure, or bank loans/credits or other sources of financing) and, in any case, only until such other sources are identified sources of financing,” according to the Decision published on the website of the Bucharest Stock Exchange consulted by Energynomics.
The next step will be the approval of some studies that could go up to about 150 million dollars, according to sources cited by Hotnews.
At the same time, the shareholders approved on Friday the Investment Decision “consisting in the financing, by SNN, of the Preliminary Works Budget of the Cernavodă CNE Units 3 and 4 Project, within the limit of a maximum ceiling of 841,000,000 lei.”
