Electrabel announces it will invest billions of euros in Romania

Patrascoiu said that Electrabel Romania was established to develop electricity projects and energy trading. Electrabel is looking into nuclear, thermal, wind and hydroelectric energy. "We are only interested in large projects with hundreds of megawatts," Patrascoiu added.

Electrabel wants to deliver the first megawatt produced in a new power plant. The company plans to build an 800 megawatt electric coal power plant in Constanta, worth €1-1.2 billion.

The company is one of the candidates to build reactors 3 and 4 of the Cernavoda nuclear energy plant. The company also wants to build thermal power plants in partnership with Termoelectrica.

"We are investigating all possibilities to become an energy producer," Patrascoiu said. He added that Electrabel is in presently in direct competition with Gaz de France, which is present on the domestic market, and which is due to merge with Suez globally. "There is no business coordination between Gaz de France and Electrabel. We are independent until the two companies merge," Patrascoiu said.