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Craiova Energy Complex seeking partner for Isalnita power project

The Craiova Energy Complex, one of the leading five local state-owned electricity producers, will select next week the foreign investor wherewith it will join forces in building and operating a new electricity producing unit in an investment estimated at 700 million euros, Constantin Balasoiu, director general of the complex, told Business Standard.

'The project will be a public-private partnership wherein the foreign investor will hold 51 pct. Three investors expressed interest so far for this project: CEZ (Czech Republic), Edison (Italy) and AES (USA), Balasoiu explained.The investment in a new 500 MW unit located at Isalnita (the southern Dolj County) would be the first thermal power station built in the last 20 years.

According to the requirements set by the Romanian authorities, the foreign investor that will partner with CE Craiova shall have a majority participation and shall provide 51 pct of the necessary funds in cash. Under the program, the joint venture should be established until autumn 2010 at the latest and the effective construction works should take 36 months at the most.

Of the three interested investors, only CEZ is already in the local distribution business, notes the paper. The strategy of the Czech group however envisages the expansion to the segment of electricity production, in partnership with the state and other private investors as well. The Italian company Edison has an installed capacity of 12,000 MW and holds a share of 15 pct of Italy's electricity distribution.

North America AES made several attempts to enter the local electricity market and is also one of the competitors in the privatization of distributor Electrica. AES is present in Hungary, Ukraine and Bulgaria, where it also built a large thermo power plant.

The Craiova Energy Complex ranks first in electricity trading and is one of the leading five energy producers. The company has an installed capacity of 930 MW and is the third-largest thermo power station in the area of Oltenia after Turceni with 1,980 MW, and Rovinari with 1,320 MW. The company plans investments of 600-700 million euros between 2010-2016, carried out in partnership with other companies and aimed at raising its energy production capacity, Thus, apart from the Isalnita-based plant, the energy producer intends to build another 150-200 MW unit at its Craiova branch.

 

Sursa: http://www.rompress.ro

Tags: project electricity power isalnita energy complex craiova

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