Elcen is out of insolvency

The Bucharest Tribunal decided to close the insolvency procedure and the reintroduction of Electrocentrale Bucuresti (Elcen) in the economic circuit, the company says.

The request through which Electrocentrale Bucuresti SA asked for the opening of insolvency proceedings was admitted on 6th October 2016, at the Tribunal Bucuresti.

The exit from the financial difficulty opens Elcen’s way to access non-reimbursable European funds or sources of financing provided by national and international financial institutions, in order to make their equity holdings more efficient. Over the next period, the company will mainly concentrate on the implementation of the major investment projects, namely the construction of new high efficiency thermal-electric units in cogeneration.

As regards the implementation of a high efficiency cogeneration unit in CET Bucuresti Sud, the Feasibility study was finalized and the optimal solution includes the construction of a new capacity with gross electrical power of almost 600 MWe and supplied thermal energy of about 376 Gcal/h to use natural gas, later in combination with hydrogen. By comparison, the installed electric power at present in the 4 CET of Elcen is 586.25 MW.

Developed by Codecraftsman