An Extraordinary General Meeting of Shareholders of the National Corporation Nuclearelectrica approved, on Thursday, with over 99.8% of the votes, SNN taking out a loan of EUR 800 million from the European Investment Bank (EIB) for the refurbishment of Unit 1 of the Cernavoda nuclear-power plant, the Ministry of Energy has reported.

'Today, October 29, 2026, the Ordinary General Meeting and the Extraordinary General Meeting of Shareholders of the National Corporation Nuclearelectrica S.A. (SNN) met. At the OGMS, 55 shareholders were present or represented, holding 92.99055% of the share capital, and at the EGMS there were 54 shareholders present or represented, holding 92.97626% of the share capital. The quorum was met for both meetings. On the agenda of the two meetings were included topics related to the refurbishment of Unit 1 in Cernavoda, the Doicesti small modular reactor (SMR) project and the selection of the members of the Board of Directors. The Extraordinary General Meeting of Shareholders approved, with 99.87700% of the total votes of the shareholders present or represented, the SNN taking out a loan of EUR 800 million from the European Investment Bank (EIB), intended for the refurbishment of Unit 1. The funding is structured in two contracts of EUR 400 million each,' SNN reported in a press statement.

The project aims to extend the operating life of Unit 1 by a new cycle of 30 years. In this context, EIB approved the granting of the financing, and the signing of the contracts was approved by the shareholders, subject to the completion of the financing conditions.

'The approved financing conditions provide for a maturity of 22 years and a grace period of four years for the repayment of the principal. The use of the financing is conditional on the entry into force of a state guarantee for 80% of the principal. The guarantee is to be formalised under a separate contract between EIB and the Romanian state, through the Ministry of Finance, after obtaining the necessary approvals, including the European Commission's decision on state aid. The Ministry of Energy supports the refurbishment project of Unit 1, with a careful assessment of the financial obligations and risks for the company and the state.'

At the same time, the Extraordinary General Meeting took note of the information on the conditions related to the final investment decision for the Doicesti small modular reactor (SMR) project and approved, with 90.13366% of the total votes held by the shareholders present or represented, the proposed measures for the activity of RoPower Nuclear.

'At the time of reporting, over 80% of these conditions had not yet been met, clarifications on the essential conditions of the project, the sharing of risks between partners and the updating of the implementation strategy are necessary. The approved measures aim to focus the project company's activity on priority conditions and to streamline expenses. The Ministry of Energy considers it necessary for decisions on the next stages to be based on technical and economic assessments and on protecting the interest of the Romanian state, as a shareholder of Nuclearelectrica.'

At the same time, the Ordinary General Shareholders' Meeting approved, with 100% of the valid votes , the initiation of the selection and nomination procedure for the occupation of five positions on the Board of Directors of SNN.

Thus, the procedure will be carried out by the Ministry of Energy, as a guardianship public authority, in compliance with OUG 109/2011 and the methodological norms approved by OG 639/2023, including the role of the selection and nomination board. AGERPRES (RO - editing by: Daniel Badea; EN - writing by: Corneliu-Aurelian Colceriu)