The Mintia Thermal Power Plant was sold for 91 million euros

The Mintia Thermal Power Plant, within the Hunedoara Energy Complex, was bought for 91 million euros by the company Mass Global Energy Rom, part of the Mass Group Holding group, a company from the Middle East with businesses in the energy, steel and cement production fields.

The announcement was made by the judicial administrator of the Hunedoara Energy Complex, who claimed that the sale is one of the most important for the Romanian energy sector and, at the same time, one of the largest insolvency transactions in recent years in Romania.

The winning company was, moreover, the only participant in the auction, the fourth attempt to sell the Mintia Thermal Power Plant. The Radio Romania News correspondent, Ilie Pintea, transmits.

Reporter: The Ministry of Energy, as a shareholder, imposed certain conditions on the investor, with the aim of relaunching energy production at Mintia.

Thus, the buyer, Mass Global Energy Rom, has the obligation until 31.12.2026 to complete the investment to create a new energy capacity, with an installed power of at least 1.290 Megawatts per hour, of which at least 800 Megawatts per hour in the gas band and renewable energy.

According to the company that bought the unit, investments in the modernization and development of the Mintia power plant in the coming years will amount to more than one billion euros and will include the development of the production capacity and, at the same time, the adaptation to the new European standards for the transition to energy production electricity from renewable sources.

The Mintia thermal power plant was part of the Hunedoara Energy Complex, which entered insolvency proceedings on 14.11.2019 and has been under conservation since the summer of 2021.

One year ago, all the more than 800 employees of the power plant were dismissed collectively, as part of a restructuring program, and received compensatory payments in the amount of 10.000 euros each.

Translated by: Radu Matei