Romania’s Interagro to invest 300Meur in power plant for 2014

, SEE Energy News

Romania’s Interagro plans to invest around 300 million euro ($400 million) in a 450 megawatt (MW) combined cycle power plant in the central Romanian town of Fagaras, the company said on Wednesday.

“Construction works will start in the first quarter of 2014 and are estimated to be completed in 2.5-3 years”.

The company is in an advanced stage of the process of setting up the consortium that will develop the plant and the necessary studies and documentation for the project are in the home stretch.

The investments are part of Interagro’s strategy aimed at ensuring the company’s energy independence and becoming a power producer and supplier.

Last week Interagro launched a 21 million euro cogeneration plant in the southern town of Turnu Magurele.

The company plans to build another four such plants worth a combined 55 million euro by end-2014.

With a capacity of 20.25 megawatts (MW), the Turnu Magurele plant will supply electricity and heat to Interagro’s fertiliser maker Donau Chem and will also deliver electricity to the national power grid. The plant, whose construction started in 2008, will run on methane gas, which will reduce significantly carbon dioxide and nitrogen oxide emissions.

Interagro plans to build two 13.5 MW cogeneration power plants in the northeastern Bacau city and in the southern town of Slobozia, worth 12 million euro and 11 million euro, respectively. The first plant is due to be completed in the second quarter of 2013, while the second in the third quarter.

Two more cogeneration plants will be launched in 2014. The first one, located in Savinesti, in northeastern Romania, is scheduled to be completed in the first quarter of the year following an investment of 21 million euro. It will have a capacity of 22.5 MW. The second, located in Fagaras, which is expected to be completed in the second quarter of 2014, is worth 11 million lei and will have a capacity of 13.5 MW.

In 2010 Interagro launched a 12 million euro 12 MW cogeneration plant in Zimnicea, in southern Romania, which meets the energy and thermal needs of a bio-ethanol production unit, the Zimnicea river port and several other production units owned by the company.

The cost estimates for all projects exclude value added tax.

The five cogeneration power plants, worth a total of 88 million euro and with a combined capacity of 93 MW, will be operated by local power producer Energy Cogeneration Group.

Interagro, a British-Romanian joint venture established in 1994, is also active in the agricultural, processing and chemical sector, among others.

Source powermarket