CEZ confirms Romanian deal, plans nuclear plants upgrades

Central Europe's biggest power producer CEZ confirmed today it has agreed to take a 15 pct stake in a Romanian nuclear power plant investment and said it plans to increase output capacity in its Czech nuclear plants.

'In Cernavoda we have negotiated a 15 pct stake and our participation is certain,' CEZ head of acquisitions Vladimir Schmalz told a news conference.

The planned joint venture with Romanian state energy group Societatea Nationala Nuclearelectrica (SNN) is aimed at building a 2.3 bln eur nuclear reactor project.

CEZ, controlled by the Czech state, said earlier today it will expand nuclear power generation by 6-7 terrawatt hours (TWh) to a total of 31 TWh by 2012 as it faces up to environmental issues with its coal-fired plants.

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(Source: Forbes)