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Romania's Termoelectrica inks agreement with Romgaz on the thermal power plant in Iernut

State-controlled thermal power company Termoelectrica signed an agreement with the gas producer Romgaz through which it gives a package of shares from the thermal power plant in Iernut, in exchange of the 160 million lei debt, according to data from the power company.

The agreement was approved by the Economy Ministry, the owner of Termoelectrica. Romgaz plans to build a 600 MW power plant on gas there.

Following this agreement, Romgaz will develop an efficient and secure market for its produced gas and Termoelectrica will replace old equipments by new ones, more efficient, the representatives of the power company also said.

The European Bank for Reconstruction and Development (EBRD) approved a 450,000 euros grant for Termoelectrica to complete some feasibility studies.

The amount will be divided between two feasibility studies, one swallowing 150,000 euros, meant to estimate the capacity of a new energetic group that would be able to sell energy on the free market and that will use the coals produced in the Doicesti area, located in the county of Dambovita. The other study will address the capacity of a new group using the Deva and Paroseni thermal plants and the coal produced in Valea Jiului.

Mechel and Electrabel showed interest in the project in Doicesti and are waiting for the conclusions of the EBRD study. Termoelectrica had previously announced it plans to construct some 450MW power plants on gas in Doicesti, with a strategic investor.

Termoelectrica produces electricity by burning fossil fuels (coal) and hydrocarbons (gas and crude oil). It posted losses of 63.43 million lei after the first three months this year.

 

Sursa: http://www.newsin.ro

Tags: power termoelectrica plant romgaz agreement thermal

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