Nuclearelectrica, operator of the country’s sole nuclear power plant in Cernavoda, has a capital of RON2.53 billion. The ministry owns 90.28% of its shares, while Fondul Proprietatea has a 9.72% stake.
The company’s capital is fueled periodically from the state budget for heavy water purchases, but Fondul Proprietatea hasn’t attended any capital increase so far.
“Fondul Proprietatea, which benefited from the result of the previous cash allocations from the budget, will be forced to contribute to the capital increase in order to keep its stake in Nuclearelectrica,” the ministry said in its rationale of the draft ordinance.
The fund “may consider itself prejudiced,” it added.
Nuclearelectrica runs two reactors of 700 megawatts power each in Cernavoda, covering around 18% of Romania’s electricity production.
The government plans to build two additional nuclear reactors with similar capabilities in Cernavoda, which are slated for launch in 2019. The heavy water necessary to run the two new reactors is estimated at 1,100 tons.
Fondul Proprietatea was set up in 2005 to compensate Romanians whose properties were seized during communism. Managed by US Franklin Templeton, the fund owns shares in over 80 companies in Romania. (EUR1=RON4.3497)