CE Oltenia and China Huadian signed agreement to build new electricity group of 500 MW in Rovinari

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The agreements in principle between the Romanian and Chinese governments start appearing. One of them is the agreement on the foundation of a Romanian – Chinese electricity IPP, signed at the Government headquarters by the President of the Oltenia Electricity Complex, Laurentiu Dan Ciurel and the President of China Huadian Engineering, Yang Yong, in the presence of Premier Victor Ponta and of Economy Minister Constantin Nita.
The President of China Huadian Engineering, Yang Yong, pointed out that the company he presides will be the leading entrepreneur and investor, and the purpose is to create a quality project.  “We will develop this project as soon as possible, at the best level, in order to create in order to create a high quality energy producer in Romania”, the Chinese official declared.
He added that China Huadian Engineering was interested in other energy projectsm as well, and will attend the development of other similar projects in Romania, in the future.
On his turn, Economy Minister Constantin Nita showed that, despite of sceptics’ opinions regarding economic partnerships with China, these are “coming to life”.  PM Ponta declared that investments in electricity are essential for the growth of Romania’s economy.
He added that the four big electricity projects agreed with Chinese investors, in Rovinari, Tarnita, Mintia and groups 3 and 4 in Cernavoda totalize investments of USD 7 million and will contribute to Romania’s consecration as an energy supplier in the region.  “On a medium and long term, 15 – 20 years, Romania will not only supply the required electricity for the internal market but will also have the capacity to export, at least at regional level (…) we are definitely the most competitive and greatest electricity supplier, and we will remain so for the years to come”, the Prime Minister declared.
He underlined that, at the time being, there was a lack of investments in transportation infrastructure, but Transelectrica would invest everything it has collected in transportation infrastructure, its top priority being the connection to the Republic of Moldova and, afterwards, to Balkan area countries in need of energy”.
A year ago, the management of the Oltenia Electricity Complex and the president of the company China Huadian Corporation had signed an agreement of intent to cooperate for the development of the thermoelectric project in Rovinari and, afterwards, the construction of the Rovinari power plant, with a new electricity group of 500 MW was included in the National Investment Plan of the Government. At that time, news were released that the group China Huadian Engineering would grant an investment of approximately USD one billion.
The Chinese company was selected to develop the investment after an international auction that took place in May 2012. Another offer, during this auction, came from the Japanese company Marubeni Corporation.
The new power plant will run on lignite and will be built on the location of two energy blocks of the Rovinari Electricity Complex, presently out of use. The project will be developed by a mixed company and the foreign investor would own the majority of the shares. The construction of a power plant of such dimension would require 3 years – 3 years and a half.
According to CE Oltenia, the unit would be equipped with modern technology, so that the price of producing electricity will be the lowest among all power plants in Romania.
The state company China Huadian Engineering, part of the group China Huadian Corporation, produces capital equipment, water treatment and environment protection technologies, builds power plants and also researches and develops high-technology products.