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An Iraqi company buys a Romanian power station and plans to invest one billion euros
Shafaq News/ The Iraqi Mass Group has bought a Romanian power plant (Mintia TPP) for 91 million euros, and plans to invest one billion euros in the station.
And according to the newspaper, See News, the Iraqi Maas Holding Group in Romania bought the Romanian Mintea Thermal Power Plant (TPP) from the Hunedoara Energy Complex (CEH) for 91.2 million euros ($91 million) at a public auction, while a judicial management expert in the company indicated A billion euros will be invested in the plant in the coming years.
Since CEH is state-owned, the Romanian Ministry of Energy has imposed certain conditions on the company, including that the company commit to creating a new energy capacity of at least 1,290 MWh by December 31, 2026, of which 800 MWh must be obtained from renewable energy sources .
Chairman of the Board of Directors of Mass Holding Group Ahmed Ismail Saleh said, "The investments in the modernization and development of the Mintia plant in the coming years will amount to more than one billion euros, in order to develop production capacity and adapt to the new European standards regarding the transition to the production of electricity from renewable sources, which will be neutral. climate by 2050.
The Mintea thermal power plant is located 9 km from the city of Deva in the center of western Romania. The plant currently has five power blocks to produce electricity and heat energy powered by steam boilers.
The thermal power plant entered bankruptcy in 2019 and has been under maintenance since the summer of 2021, in the absence of the necessary investments to bring it into compliance with EU environmental standards.
Founded in 1995, Mass Holdings Group is an Iraqi company registered in the Cayman Islands / United Kingdom and headquartered in Amman, Jordan. The holding company focuses on power generation and cement production. and iron and steel production.
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And according to the newspaper, See News, the Iraqi Maas Holding Group in Romania bought the Romanian Mintea Thermal Power Plant (TPP) from the Hunedoara Energy Complex (CEH) for 91.2 million euros ($91 million) at a public auction, while a judicial management expert in the company indicated A billion euros will be invested in the plant in the coming years.
Since CEH is state-owned, the Romanian Ministry of Energy has imposed certain conditions on the company, including that the company commit to creating a new energy capacity of at least 1,290 MWh by December 31, 2026, of which 800 MWh must be obtained from renewable energy sources .
Chairman of the Board of Directors of Mass Holding Group Ahmed Ismail Saleh said, "The investments in the modernization and development of the Mintia plant in the coming years will amount to more than one billion euros, in order to develop production capacity and adapt to the new European standards regarding the transition to the production of electricity from renewable sources, which will be neutral. climate by 2050.
The Mintea thermal power plant is located 9 km from the city of Deva in the center of western Romania. The plant currently has five power blocks to produce electricity and heat energy powered by steam boilers.
The thermal power plant entered bankruptcy in 2019 and has been under maintenance since the summer of 2021, in the absence of the necessary investments to bring it into compliance with EU environmental standards.
Founded in 1995, Mass Holdings Group is an Iraqi company registered in the Cayman Islands / United Kingdom and headquartered in Amman, Jordan. The holding company focuses on power generation and cement production. and iron and steel production.
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