Swiss group AOT Energy, a global leader in energy trading, covering crude oil and derivatives, renewables, petrochemicals, natural gas, and LNG, intends to finance a mixed energy project in Arad, consisting of a photovoltaic park with an installed capacity of 45 MW and a 3 MW electrolysis hydrogen production plant.

The project would be developed by a private (and insolvent) company on a 69-hectare land that belonged to CET Arad - the insolvent producer of electricity and heat controlled by the Arad Local Council, according to official documents consulted by Profit.ro.

The land was taken over by the gas supplier C-Gaz & Energy Distributie, on account of a claim of about RON 2.41 mln (EUR 0.5 mln) against CET Arad for unpaid gas bills. C-Gaz & Energy Distributie is controlled by the local businessman Peter Braun and his family. The PV park is scheduled for commissioning in 2022.

Swiss AOT Energy is already financing CET Arad for the acquisition of natural gas.

(Photo: Lovelyday12/ Dreamstime)

andrei@romania-insider.com