The process was supervised by Expert Insolventa, the court-appointed trustee of the Complexul Energetic Hunedoara (Hunedoara Energy Complex) that Mintia was part of.
“We tried to give the energy industry in Romania a chance to get better, especially in the current economy, and we are happy we managed to attract a major investor in this tender in only four months after starting it, an investor that has the capacity to upgrade and further develop the Mintia power plant, a strategic asset for the country,” said Emil Gros, managing partner of Expert Insolventa SRL.
Only one bidder came to the tender on August 26, the representative of the Mass Global Energy Rom, a company established precisely for this acquisition.
The investments in upgrading and developing the Mintia power plant will amount to more than EUR1 billion in the next few years and will include development of the production capacity and compliance with the new EU standards for switching to renewable sources to generate power, said Ahmad Ismail Saleh, chairman of the board of the Mass Group Holding.
Mass Group Holding is an Iraqi group registered in the Cayman Islands and headquartered in Amman, Jordan, available data show. Mass Group holding has about 7,100 MW in energy generation facilities in Iraq, and a 100 MW wind power project in Jordan, the corporate website says. It also has cement and steel industry operations.
(English version by Loredana Fratila-Cristescu)