Romania, TPP Mintia will be put up for sale through a public auction with the starting price of 91.2 million euros

, SEE Energy News

According to Energy Complex (EC) Hunedoara’s insolvency administrator Expert Insolventa, coal- fired thermal power plant Mintia will be put up for sale through a public auction with the starting price of 91.2 million euros, excluding VAT.

The auction is scheduled for 15 July. If the asset is not sold, the auction will be repeating on 26 August, with the same starting price. The participants will have to provide a guarantee in the amount of 10 million euros.

The statement from Expert Insolventa said that, regarding the importance of the energy sector and the impact that such an investment will have for the entire community in the area and for the National Electricity System, the Ministry of Energy imposed certain conditions on the prospective buyers, such as construction of the new 800 MW of capacity on methane gas and renewable energy by the end of 2026.

Reportedly, 11 companies from four countries (Romania, South Korea, Jordan and Canada) have expressed interest in the acquisition of the plant.

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.