Thermal electricity producer Complexul Energetic Oltenia, together with Chinese company China Huadian Engineering, will start the construction of a 600 MW energy group in Rovinari next year. The investment amounts to EUR 847 million.

The building of the energy group will take at least three years, said Laurentiu Ciurel, Complexul Energetic Oltenia’s general manager, cited by local Mediafax.

The Romanian electricity producer will have a 10% stake in the project, but this could increase up to 49%, based on the company’s financial capacities, according to Ciurel.

The Government approved a memorandum of understanding with the Chinese group for building the 600 MW group in Rovinari at the beginning of September. Complexul Energetic Oltenia is Romania’s biggest thermal electricity producers. The company has big financial problems and needs restructuring.

editor@romania-insider.com