The extension of the contract, which was first signed in 2017, follows a government decision, which amended previous legislation regarding CO2 certificate allocation to electricity producers. The decision extends the completion period for investments financed from the National Investment Plan until December 31, 2026, and the reimbursement period until June 30, 2027.
The addendum modifies the contract term and investment schedule while maintaining the December 31, 2026 deadline for project completion and commissioning.
“The object of the Addendum is the modification of the contract term until June 30, 2027, for financing, as well as the modification of the investment schedule, provided in the contract. The completion date of the investment, confirmed by its commissioning, may not exceed December 31, 2026,” the report reads.
The combined cycle power plant is part of Romania’s energy infrastructure development under the National Investment Plan. The project was initially announced in December 2017 when the original financing contract was signed.
The extension provides additional time for expense reimbursement while keeping the construction completion timeline unchanged.