Marubeni and Elcen to build a 250 MW gas power plant in Mures

Romania's largest thermo energy producer, Electrocentrale Bucharest, set up a joint venture with Japanese firm Marubeni Corporation to develop a gas power plant with a total installed capacity of 250 MW. The investment for the plant located in Fantanele, Mures county will amount to about 170 million euros. 

The joint venture, SC Fântânele Gas Power SA, will be owned 90% by Marubeni Corporation and the remaining 10% of shares by Electrocentrale Bucharest, the company being operated as an independent power producer. The project involves the development of electricity generation units powered by natural gas, located inside the former Fântânele thermoelectric plant, which is currently disused.

The financing of the project will be covered by credit institutions and / or commercial banks and about 30% of the capital will be contributed in cash by Marubeni, while ELCEN will contribute in-kind contributions, the land required for the project and access to utilities. The plant construction  is due to be completed within 18 months from the date of financial closure of the project, while the estimated date of starting commercial operation is 2017. Marubeni Corporation was assisted by law firm Tuca Zbârcea & Associatii.