Romanian insolvent energy company sells thermal power plant to Jordanian group

Romania’s Complexul Energetic Hunedoara (CEH), one of the country’s biggest thermal electricity producers currently under insolvency, sold the Mintia thermal power plant near Deva to a Jordan-based group – Mass Group Holding. The transaction amounted to EUR 91.2 million, without VAT, according to CEH’s judicial administrator Expert Insolventa SPRL.

The Energy Ministry, led by Liberal Virgil Popescu, has set several conditions for this deal. One of them is that the buyer will have to complete a new power unit with a capacity of 1,290 MWh, of which 800 MWh based on gas and renewable sources by December 31, 2026.

“The investments in the modernization and development of the Mintia power plant in the coming years will amount to more than EUR 1 billion and will include the development of the production capacity and, at the same time, the adaptation to the new European standards for the transition from the production of electricity from renewable sources and leading to climate neutrality by 2050,” said Ahmad Ismail Saleh, Chairman of Mass Group Holding.

The Mintia thermal power plant is located close to Deva on the river Mures. It has five coal power units with a total capacity of 1,285 MW. The plant was shut down completely in July 2021.

Mass Group Holding has its headquarters in Amman, Jordan, and owns electricity generation units totaling over 8,500 MW.

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