A 1bn-euro greenfield investment with a 800-MW installed capacity (bigger than a reactor at Cernavoda nuclear power station), a construction period of six to eight years and 25 years until project amortisation, with foreign management, and the creation of hundreds of new jobs on the domestic workforce market.
In brief, this is how the first Romanian private project related the coal-powered generation of electricity looks. Behind this investment are Germany's E.ON and Italy's Enel, the first companies that agreed with Termoelectrica to build the Braila-based coal power station from scratch.
The only reason behind this alliance between the two European giants, which have billions of euros available, was the fact that their bids were considered equal by the commission, which chose the winner of the tender.
According to the latest information, E.ON and Enel will be followed by CEZ and Belgium's Electrabel, which will develop projects of a similar size, in partnership with the same Termoelectrica, in Galati and Borzesti. Overall, investments could reach 3bn euros in new thermoelectric power stations.
Both E.ON and Enel are present in Romania through electricity distribution and supply companies. Establishing some production facilities was absolutely necessary for the development of these companies and, according to E.ON data, the joint unit set up with Enel could start operating within the next eight years.
"We're currently in the planning phase. Usually, the construction of such a facility lasts between six and eight years," says Ingo Luge, CEO of E.ON Kraftwerke, the business unit dealing with the generation side at the group.
Now, the project is undergoing authorisation, with direct talks with equipment suppliers being scheduled for next year.
"We plan to hire as many people in Romania as possible. Except management positions, we'll not resort to workforce imports. Further, we'll invest in the training of Romanian employees (...)," says Luge.
Funds exclusively come from foreign investors. The project is the first greenfield of this type to be carried out in Romania, after a long period with no major investments in the thermoelectric power segment. Experts say all these private projects will boost the market and tighten competition.
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