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Termoelectrica top executive speaks about privatisation of four thermal power plants

The thermal power plants based in the eastern Galati city, Doicesti in the south and Borzesti and Braila in the east, the continuous operation of which incurs too high costs, are yet essential in the case of emergencies and owner Termoelectrica, therefore, makes efforts to save them from being shut down, by taking advantage of the increasing demand for energy producing facilities.

Termoelectrica managing director Ioan Ungureanu told the Business Standard daily on Tuesday that the four thermal power plants will not be turned to private hands, but projects related to them will be put up for sale instead. Thus, the investors will be made available the facilities Termoelectrica has, such as 'a transformation station, the transportation way for the fuel and the land'. Termoelectrica, in exchange for making those facilities available, will become a minority shareholder in the company that will conduct the investment project. 'We already have binding offers for all the four plants', Ungureanu said. The companies having showed interest in the project include E.On, ENEL, CEZ, Electrabel, AES-U.S., Gaz de France, EdF, he announced. The Termoelectrica head says the investments in the four power plants might stand at about 2 billion euros, with the foreign investors to contribute 600 million euros directly. The projects might be completed in some four to five years. Termoelectrica became an independent company in 2000, when all the coal- and hydrocarbon-based thermal power plants broke up from former electricity utility CONEL. At that time, Termoelectrica held 55 percent of the electricity market. Now it covers 2.6 percent of it, with 'historic' losses at 400 million lei or some 100 million euros. Sursa: http://www.rompress.ro

Tags: termoelectrica plants thermal power

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