Romania, Romelectro has filed for insolvency

, SEE Energy News

Romanian EPC contractor Romelectro has filed for insolvency.

Romelectro has over 50 years of experience in the local and international market, being one of the most important EPC contractors in Romania, covering through its projects the entire energy chain: from production to transmission, distribution and supply of electricity.

Romelectro was involved in the construction of gas-fired unit at Romgaz’ TPP Iernut, which has not yet been completed, although the deadline was in 2019.

In 2020, Romelectro recorded a turnover of 40.5 million euros and a loss of 1.65 million euros.