“We expect an increase in this year’s turnover to EUR45 million, backed by the contracts concluded by the company. We also expect a strong growth in 2016,” Romelectro Group general manager Cristian Secosan told a press conference Thursday.
Secosan said the electricity distribution network in Romania, developed dozens of years ago, fails to meet the current needs.
Romelectro group is currently modernizing unit 7 of the Turceni thermal power plant within energy holding Complexul Energetic Oltenia, as the rehabilitation of the third, fourth and fifth units was completed.
Moreover, the Institute for Energy Studies and Design, one of the group’s firms, signed in August a consulting services contract for the drafting of restructuring plan of energy holding Complexul Energetic Hunedoara.
Romelectro is contractor, developer and investor in energy projects. The group includes four companies – Romelectro SA and other three firms in which Romelectro is majority shareholder: the Institute for Energy Studies and Design (ISPE), CELPI and Electromontaj Carpati Sibiu.
Romelectro also has three micro hydropower plants in Voineasa, with an installed power of 1.5 MW.