“We still believe there could be interest in the reactors,” said Mircea Metes, chief engineer with Nuclearelectrica’s electricity trading division.
Speaking at the 2013 ZF Power Summit, Metes said Nucleaelectrica is seeking to attract investors from China.
State-run Nuclearelectrica controls the majority stake in EnergoNuclear, a joint venture set up to build the two additional reactors in Cernavoda. The company plans to cut its stake in EnergoNuclear to around 40% and wants to attract new investors, after four of its initial six partners withdrew their funds, citing economic and market uncertainties.
Romania organized two auctions this year to select new partners for the project, but with no results.
Nuclearelectrica currently operates two reactors of 700 megawatts power each in Cernavoda and covers around 18% of Romania’s electricity production. The two new reactors are expected to double the plant’s capacity.
“Nuclearelectrica is profitable and will not have any problems even if it continues with only two reactors,” Metes said.
He said Nuclearelectrica could see a drop in its profits in the future due to growing competition on the energy exchange from wind power producers.
The company is entirely able to operate under the current market conditions, but “if we are to invite investors and tell them they can make a profit, then they should know that the profits will be smaller,” Metes told the summit.
“Wind energy producers are not admitted on the bilateral contracts market, but, on the day-ahead market, the wind is coming on strong and with small prices,” he added.