Elcen to open new 190 MW unit in 2008

The construction project, worth €135 million, was contracted by Siemens, one of the world’s largest electrical engineering and electronics companies, which developed the project following its acquisition of the Austrian VA Tech company.

“The €135 million came from both loans contracted by Electrocentrale Bucuresti and own sources,” said Elcen officials. They added that the 190 MW unit at CET Vest is the most advanced Electrocentrale Bucuresti project, intended for the development of new capacities. “The new unit meets one fifth of Bucharest’s energy production,” mentioned company officials.

The company currently has several such projects, at CET Sud, CET Palas Constanta, and CET Grozavesti.

Electrocentrale Bucuresti covers some 13 percent of Romania’s electricity consumption and one third of the national demand for thermal energy. The company has five thermal plants in Bucharest, one in Mures and one in Constanta.

 Elcen posted revenues in excess of €615 mln in 2006, up one third year-on-year. The company’s net profit amounted to €8 mln last year, according to Romania’s Official Gazette, after reporting losses worth €43 mln in 2005.