The ministry of energy approved the Romgaz request for financing of the Iernut powerstation from the National Plan for Investments

The ministry of energy approved the request lodged by Romgaz regarding the financing from the National Plan for Investments of a new power station on gas in Iernut, according to a press release of Romgaz, sent to the BVB.

According to the document, during the period to come there will take place the negotiation process between Romgaz and the ministry of energy with regards to the provisions of the financing contract and the schedule for reimbursement requests (which include the estimated sums to reimburse and the date of the reimbursement files).

The national gas producer Romgaz signed on 1 November 2016 a contract worth 268 million euro without VAT with the companies Duro Felguera and Romelectro for the development of a new power station for the production of electricity in the Iernut thermal power station.

The objective of the contract represents the accomplishment of the project, namely design, equipment delivery, execution, and functioning ,’The development CTE Iernut by the construction of a thermal power station with combined cycle with gas turbines’.

The finalising term of the works is 36 months since the starting of the contract, five days after the approval of the financing file from the PNI funds, according toan announcement of Romgaz.

Romgaz took over the Iernut power station in 2013 from Electrocentrale Bucuresti for the debt of 653 million lei.

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