The new power plant would have a similar capacity to the Brazi plant, said Carmencita Constantin, energy and environment manager at Romania’s Institute for Studies and Power Engineering. The institute has provided consultancy services for the project in Brazi.
Constantin said the project is still in its drawing stages and will be analyzed if Petrom’s drilling project in the Black Sea proves commercially developable.
Contacted by Mediafax, Petrom officials said the company hasn’t reached a decision regarding a second thermal power plant.
“Petrom’s strategy for 2015 includes the construction of the 860 MW plant in Brazi. At this time, no decision has been made regarding the construction of a new plant,” the oil company told Mediafax.
Petrom said the company’s action plan for 2021, should be completed by the end of 2012.
The construction of Petrom’s power plant in Brazi kicked off in 2009 and was completed in 2011, in an investment worth EUR500 million. The 860 MW plant was supposed to start production in December last year, but the deadline was put off due to technical malfunctions.
Petrom is majority owned by Austria’s OMV (OMV.VI), with a 51% stake. Romania’s Economy Ministry and investment fund Fondul Proprietatea hold 20.63% and 20.11% in Petrom, respectively, while the remaining shares are traded on the Bucharest bourse.
At around 13:40 pm Wednesday, Petrom traded up 0.46% at RON0.3965 a share. (EUR1=RON4.3778)