These funds will save Termoelectrica units from closing and allow the company to pay debts to the state budget, according to the producer’s General Manager, Ion Ungureanu, for Business Standard.
The association with private investors means that Termoelectrica will provide existing assets, while investors will come up with necessary funds for the new energy groups.
“If we had not found an investor for these thermal energy plants, these would have been closed. However, if feasibility studies show that these new projects are not viable, the plants will be closed,” Ungureanu added.
Some of Termoelectrica’s production units are among Romania’s oldest, with technologies exceeding half a century. “These plants are too old to be profitable. New groups were needed, but we had no money for these,” the General Manager said.
