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Monday, 29 August 2022

A Romanian thermal power plant will get a renewable revamp courtesy of Iraq

Iraq’s Mass Group Holding to acquire a Romanian thermal plant green: Iraqi infrastructure and electricity developer Mass Group Holding acquired a 1.2 GW thermal power plant in Romania and will invest to ensure it begins sourcing power from renewable energy sources, according to a statement picked up by business intelligence publication SeeNews. Mass Group bought the Mintia power plant from state-owned power producer Complexul Energetic Hunedoara (CEH) for USD 91 mn at a public sale.

Mass Group plans to invest an extra EUR 1 bn by 2026 to have 62% of it run on renewable energy, the statement reads. The Romanian government stipulated that Mass Group needs to expand Mintia’s energy capacity to at least 1.29k MWh by the end of 2026, of which 800 MWh must be sourced from renewable energy sources, according to SeeNews, which references a statement by CEH’s judicial administrator Expert Insolventa.

FYI- Thermal power plants operate with energy produced by a steam boiler, which is fueled by heat from coal, natural gas, heating oil, biomass or renewable energy sources.

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