Romania: Cernavoda Unit 2...

Unit 2 of Romania’s sole nuclear power plant, Cernavoda, was brought back online...

Montenegro: Major renewable energy...

Two significant renewable energy projects are progressing in the village of Korita, located...

Bulgaria: Solaris Holding launches...

Solaris Holding, a joint venture between Bulgarian-German solar developer Sunotec and Eurohold Bulgaria,...

Bosnia and Herzegovina: Electricity...

Gross electricity production in the Federation of Bosnia and Herzegovina (FBiH) reached 512...
Supported byClarion Energy
HomeSEE Energy NewsRomania, ELCEN announced...

Romania, ELCEN announced its exit from insolvency after a Bucharest court ruled to close insolvency proceedings started in 2016

Bucharest-based thermal energy and electricity producer ELCEN announced its exit from insolvency after a Bucharest court ruled to close insolvency proceedings started in 2016.

The statement from the company said that it has fully covered its payment obligations under its reorganization plan and paid current due debt. The exit from insolvency paves the way towards accessing non-refundable European funds or other financing from national and international institutions to increase the efficiency of its cogeneration plants.

In the coming period, ELCEN plans to focus on the implementation of major investment projects, such as the construction of new high-efficiency cogeneration plants. The company plans to build natural gas and hydrogen fueled high-efficiency cogeneration plant within CET Bucuresti Sud, with 600 MW output. It also aims to modernize and increase the efficiency of its four existing cogeneration plants, with combined capacity of 586.2 MW.

In November 2022, the Romanian Government increased Bucharest municipality’s debt ceiling by some 100 million euros so that Termoenergetica, the company managing the capital’s heating network, could pay its debt to ELCEN, which was paid in full a month later.

Established in 2002, ELCEN produces 40 % of Romania’s and 90 % of Bucharest’s thermal energy. The Romanian state holds a 97.51 % stake in the company through the Ministry of Energy.

Sign up for updates & special reports

Supported byOwner's Engineer banner

Recent News

Supported byspot_img
Supported byspot_img

Latest News

Supported byspot_img
Supported bySEE Energy News

Related News

Romania: Cernavoda Unit 2 returns to service following safety inspections and smoke incident

Unit 2 of Romania’s sole nuclear power plant, Cernavoda, was brought back online on the morning of 27 June after a controlled shutdown on 25 June for inspections and minor repairs. Operator Nuclearelectrica confirmed that all corrective actions complied...

Montenegro: Major renewable energy projects advance in Korita

Two significant renewable energy projects are progressing in the village of Korita, located in Bijelo Polje municipality, Montenegro: a €200 million solar power plant and a wind farm with an installed capacity of 72.6 MW. The wind farm, developed by...

Montenegro: EPCG secures €25.63 million EBRD loan to expand Gvozd wind farm capacity

Montenegrin state-owned power utility EPCG has obtained government approval to borrow 25.63 million euros from the European Bank for Reconstruction and Development (EBRD) to finance the second phase of the Gvozd wind farm, which will add 21 MW of...
Supported byVirtu Energy
error: Content is protected !!