Ciga Energy Epic, a member of the RCI Holding of companies, signed a contract with Electrocentrale Craiova S.A to provide Owner’s Engineer Services for the construction of a 295 MW natural gas power plant in Craiova.
The consortium for this project comprises Ciga Energy Epic S.A. as the lead partner, along with RomCapital Invest S.A., SS&A Power Consultancy AG, SS&A Power Consultancy doo, and Compania de Consultanță în Energie și Mediu S.A. as a subcontractor.
The initial phase will focus on preparatory activities, including analysis and optimization of the Feasibility Study, and the preparation of procurement documents for selecting the EPC Contractor. Phase II will involve implementing services such as analyzing and approving technical documentation, preparation of the Supervision Manual, and providing supervision services and project management. Phase III will cover warranty phase services, including assistance during the Warranty Period of the natural gas power plant.
The estimated value of the contract is 13.24 million lei and the implementation period is 60 months.
According to the specifications, the new power plant will include a combined cycle gas turbine-steam turbine (CCGT) for power generation, together with the auxiliary systems and facilities required for safe operation. The plant will consist of two gas turbines, two heat recovery boilers with heat recovery in the form of steam and a steam turbine.
The gas turbine will have an installed capacity of 95 MWe and the condensing steam turbine about 105 MWe. The new power block will have a gross electrical output of about 300 MWe.
The value of the investment in the new power plant is 1.28 billion lei and the estimated commissioning date is 2026.
About Ciga Energy Epic
Ciga Energy Epic, a member of the RCI Holding of companies, is a dynamic provider of engineering services, offering a comprehensive suite of solutions tailored to meet the diverse needs of our clients. Specializing in large energy projects, they cover a broad spectrum ranging from traditional energy generation ventures to cutting-edge renewable sources such as solar, wind, and hydrogen.
About RCI Holding
RCI Holding, a conglomerate of 17 companies founded in 2000 and based in Bucharest, Romania, is a major player in the Engineering, Technology, Financial, and Energy markets. With over 250 permanent employees and 500 collaborators, the holding operates through subsidiary offices in Athens, Greece, and Chisinau, Moldova. The holding has successfully delivered more than 2,500 implemented projects, managing an investment value exceeding 16 billion euros.
There is something fishy here. What would be a good reason to put a project of around 1 bln Euro into the hands of a JV with little to no relevant experience? Ciga Energy has no similar project in their portfolio, CCEM has just been registered less than a year ago, the other parties in the JV have no similar projects in their history. On the top of this, RCI Holding’s annual turnover is around 55 MEuro. This is not going to be good.