Fitch Ratings on Tuesday affirmed Romania's nuclear power generation company Nuclearelectrica's Long-Term Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook.The affirmation reflects Nuclearelectrica's strong market position as the sole producer of electricity from low-cost nuclear power plants in Romania, its solid position in the merit order and low net leverage at least until 2025. This underpins its Standalone Credit Profile (SCP) at 'bbb-' and the Stable Outlook on the IDR.However, a large capex plan, particularly the refurbishment of nuclear unit 1, which will not be operational in 2027-2029, will considerably increase net leverage from 2027. This may lead to negative rating action depending on its projected financial profile in 2027-2030, potential support measures from the Romanian state (BBB-/Stable) as the majority shareholder, changes in revenue visibility due to possible contracts for difference (CfD) and progress with other projects, among other things, says Fitch.The business profile of Nuclearelectrica is supported by its strong market position as the sole producer of electricity based on nuclear technology, covering around 20% of the country's total demand for electricity and 35% of electricity produced without greenhouse gas emissions. The company operates two nuclear reactors with a total installed capacity of about 1.4GW, has a strong operational record, high operating margins and a solid position in the Romanian merit order.In 2022, the company's EBITDA increased to RON3.6 billion (up 106% yoy), as a result of high electricity prices in bilateral contracts and on the spot market. We expect profitability to remain healthy in 2023-2026, with average annual EBITDA of around RON 1.9 billion.Nuclearelectrica's status, ownership and control links with the state are 'Strong', reflecting majority state ownership (82.5%), and its strategic importance as the sole producer of nuclear energy in Romania with a large share of covered electricity demand.The financial and socio-political implications of Nuclearelectrica's default for Romania are both 'Moderate', as Fitch assumes that most of its operations would likely continue even with Nuclearelectrica in financial distress.Among the factors that could, individually or collectively, lead to negative rating action/downgrade in the case of Nuclearelectrica are negative rating action on Romania; inability to maintain adequate liquidity and to finalise financing for increased capex plans on a timely basis and within our assumptions for interest costs, and worse-than-expected operating performance.Fitch does not anticipate an improvement in Nuclearelectrica's SCP due to the large upcoming capex programme.
The Romanian government has approved a new emergency ordinance that introduces major fines for feeding wild bears, environment minister Diana Buzoianu announced on Thursday, November 6. The legislation also defines key terms such as "feeding of bears" and "habituated bear," aiming to curb practices that draw wildlife into populated areas,
The American defense technology company Allen Control Systems (or ACS) has signed a memorandum of understanding with the Romanian Armed Forces for the joint production of autonomous anti-drone turrets in Romania. ACS recently signed two contracts for the delivery of its autonomous Bullfrog turret to the armies of South Korea and the United Arab Emirates. […]
Global environmental NGO Greenpeace saluted the fact that Romania adopted a new normative act on Thursday, November 6, creating the necessary legislative framework so that citizens, municipalities, NGOs, and small enterprises can jointly produce, manage, and consume renewable energy. The framework was finally created “after nearly three years of waiting and requests from local authorities […]
Roweb, compania românească din spatele software-ului nr.1 din Belgia în Real Estate În timp ce România continuă să importe mai mult decât exportă, companii locale precum Roweb demonstrează că soluțiile digitale și inteligența artificială pot echilibra balanța și pot pune țara pe harta inovației europene. AI made in Romania: de la cod la […]
Romania has significantly increased its separate collection of textile waste over the past decade, rising from just 48 tons in 2010 to 2,774 tons in 2022, according to data analyzed by Clean Recycle. Despite the progress, the country still collects only about 15% of the roughly 250,000 tons of textile waste it generates each year. […]
Romanian president Nicușor Dan and Secretary General of the North Atlantic Alliance, Mark Rutte, participated in the NATO Industry Forum 2025 in Bucharest on Thursday, November 6. During his speech, the president said that “rearmament is not a choice, it is a necessity” due to the many threats to peace. The Romanian president began his […]
