“Tarnita-Lapustesti is a highly important project and we are currently searching for investors,” Nita told reporters at the inauguration of a business service center in Cluj-Napoca, northwest Romania.
“We need a public-private partnership or a company willing to invest the necessary capital, of around EUR1.2 to EUR1.4 billion,” he added.
The Tarnita-Lapustesti pumped-storage hydropower plant will be located on the Somesul Cald River in Cluj county. When completed, the plant will be the largest hydroelectric load balancing system in Romania, with a total capacity of 1,000 megawatts.
Romanian state-run energy producer Hidroelectrica is currently the main sponsor and beneficiary of the project, whose construction is estimated to take around eight years.
Hidroelectrica selected a consortium made of Deloitte – as project leader, HydroChina ZhongNan and Romanian lender BCR to find additional investors for the plant.