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October 6, 2022

Mintia thermal power station bought by Mass Global Energy Rom for 91 million euros

The Mintia thermal power station has been bought for 91 million euros by Mass Global Energy Rom, part of the Mass Group Holding group, at a public auction, the judicial administrator of the Hunedoara Energy Complex announced on Friday in a press statement.

Considering the specifics of the asset, the Romanian Ministry of Energy, as a shareholder, imposed certain terms and conditions on the investor with the aim of restarting energy production at Mintia. Thus, the buyer, Mass Global Energy Rom, is under an obligation to complete investing into a new energy facility of an installed power of at least 1,290 MWH, of which at least 800 MWH worth of natural gas and renewable energy generated, and do so by December 31, 2022. The start of the investment will be possible after all the necessary approvals and authorisations have been issued.

The Mintia thermal power station is composed of land on an area of 3,297,807 square metres, structures, as well as movable assets and related equipment.

The public auction took place on Friday, August 26, 2022, at the headquarters of the judicial administrator, where only one bidder showed up, namely the exec of Mass Global Energy Rom, a company established specifically for this purchase. It was the fourth auction for the utilisation of the Mintia thermal power station.

The Mintia thermal power station entered insolvency on November 14, 2019 and it has been under conservation since the summer of 2021, in the absence of the necessary investment to make the plant compliant with the environmental provisions of the European Union.

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