State-owned nuclear power producer Nuclearelectrica aims to obtain financing totaling €620 million for two pivotal projects at the Cernavodă Nuclear Power Plant and is looking for the green light from shareholders in the next meeting scheduled for early September.

The company is seeking approval for a €540 million loan from a banking syndicate led by J.P. Morgan, designated for the refurbishment of the first nuclear reactor at Cernavodă. This loan will fund the modernization and life extension of one of Romania's key energy projects.

In addition, the company is also acting as guarantor for an €80 million loan contracted by its subsidiary Energonuclear, also from a J.P. Morgan-led syndicate. This financing is earmarked for the investments in two more nuclear reactors at the same plant.

Nuclearelectrica holds a significant role in the local market, contributing over 18% of the nuclear energy to total energy production and 33% to Romania's total carbon-free energy output.