Iraqi Group to Invest EUR 1bn in Romanian Electricity Plant

By John Lee.

Romania's Prime Minister, Nicolae-Ionel Ciucă, has met with representatives of Iraq's Mass Global Energy Rom, the company that purchased the Mintia Thermal Power Plant.

During the meeting, the investment plan worth over one billion euros, designed to turn the thermal power plant into the EU's largest and most efficient power production capacity by gas was presented.

According to a statement from the Romanian government, the most modern technologies will be used to enable production of at least 1,500 MW.

It adds that, "the components of the plant will be prepared for the transition to the new energy production technologies, based on hydrogen".

The first stage of the investment will be completed within 24 months, and the project will reach full maturity in 36 months.

(Source: Govt of Romania)

(Picture credit: Govt of Romania)

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