Romania, Mass Global Energy bought TPP Mintia

, SEE Energy News

Insolvency Expert, a judicial administrator for Energy Complex (EC) Hunedoara, announced that thermal power plant Mintia was bought at the public auction for 91 million euros by Mass Global Energy.

Ahmad Ismail Saleh, chairman of the parent Mass Group Holding, said that this is the first investment of the Mass group in Romania and certainly one of the most important for the development of the group. Investments in the modernization and development of the Mintia plant in the coming years will amount to over 1 billion euros and will include the development of the production capacity and at the same time the adaptation to the new European standards for the transition to the production of electricity from renewable sources and which will lead to climate neutrality by 2050.

TPP Mintia is composed of land on an area of 3.3 million square meters, buildings, as well as movable goods and related equipment. The first auction, scheduled for 15 July failed, because there were no bidders.

Among the conditions imposed by the Ministry of Energy to the company that will purchase the coal -fired power plant is the obligation to develop a new energy capacity of 800 MW in methane gas and renewable energy by the end of 2026.

TPP Mintia ceased operations in March last year due to a lack of coal, and all 700 employees were laid off collectively in August, receiving compensatory payments of 10,000 euros each.