The thermal power plant Mintia was bought for 91 million euro by Mass Global Energy Rom, part of the Mass Group Holding group, in a public auction, the judicial administrator of the company Complexul Energetic Hunedoara S.A. announced on Friday, in a press release.
“Insolvency Expert, as the judicial administrator of Complexul Energetic Hunedoara, announces the sale by public auction of the Mintia Thermal Power Plant owned by Complexul Energetic Hunedoara to Mass Global Energy Rom, part of Mass Group Holding, an important global energy producer that has capacities of over 8,500 MW. The transaction worth 91,236,832 euros, exclusive of VAT, is one of the most important for the Romanian energy sector and at the same time one of the largest insolvency transactions in recent years in Romania,” the press release states.
The Ministry of Energy, as a shareholder, imposed certain conditions on the investor with the aim of relaunching energy production in Mintia. Thus, the buyer, Mass Global Energy Rom, has the obligation, until December 31, 2026, to complete the investment to create a new energy capacity with an installed power of at least 1,290 MW, of which at least 800 MW in baseload on gas and extra renewable energy. The start of the investments will be possible after the authorities have granted the necessary approvals and authorizations.
“It is the first investment of the Mass group in Romania and certainly one of the most important for the development of our group, which has the mission of becoming a global example of energy generation for people. Investments in the modernization and development of the Mintia plant in the coming years will amount to over 1 billion euro and will include the development of the production capacity and at the same time the adaptation to the new European standards for the transition to the production of electricity from renewable sources and which will lead to climate neutrality by 2050,” said Ahmad Ismail Saleh, chairman of Mass Group Holding.
The Mintia thermal power plant is composed of land on an area of 3.3 million square meters, buildings, as well as movable goods and related equipment.