Romanian chemicals producer Chimcomplex Borzesti signed a financing contract for the construction of a 108 MW gas-fired cogeneration plant worth an estimated 139.5 million euros in the city of Ramnicu Valcea.
Up to around 100 million euros of the total investment is eligible to be covered by non-reimbursable EU funds under Romania’s National Recovery and Resilience Plan, NRRP, Chimcomplex said in a filing with the Bucharest Stock Exchange.
The project should be completed by the end of 2025.
The cogeneration plant facilitates coal and lignite-based energy phase-out, ensuring the supply of thermal energy to the city of Ramnicu Valcea.
In addition to increasing the installed cogeneration capacity by 108 MW within three years of signing the financing contract, the project aims to reduce greenhouse gases by 84,468 tonnes of CO2 per year within Ramnicu Valcea, while also decreasing annual primary energy consumption by 418,105 MWh.
