Romania: INVL Renewable Energy...

INVL Renewable Energy Fund I, managed by INVL Asset Management and focused on...

Croatia: Summary of Guarantees...

On 29 July, a total of 231,827 Guarantees of Origin (GOs) were sold...

Bulgaria: TPP Maritsa 3...

Bulgarian thermal power plant Maritsa 3 reported a net loss of €2.7 million...

Bulgaria: Bobov Dol thermal...

The Bulgarian thermal power plant Bobov Dol posted a net profit of approximately...
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: INVL Renewable Energy Fund I secures €29.3 million loan for 71 MW solar project

INVL Renewable Energy Fund I, managed by INVL Asset Management and focused on renewable energy projects, has obtained a €29.3 million loan from Kommunalkredit Austria to finance the construction of a 71 MW solar power plant in Dolj County,...

Croatia: Summary of Guarantees of Origin auctions for electricity held on 29 July

On 29 July, a total of 231,827 Guarantees of Origin (GOs) were sold in auctions organized by HROTE and ENNA Next. These auctions were conducted in five parallel sessions via CROPEX’s IT trading platform, covering GOs from wind, biogas,...

Bulgaria: TPP Maritsa 3 narrows loss to €2.7 million in first half of 2025

Bulgarian thermal power plant Maritsa 3 reported a net loss of €2.7 million in the first half of 2025, a significant improvement compared to a €11.5 million loss during the same period in 2024. The company’s total revenues fell to...
Supported byVirtu Energy
error: Content is protected !!