Ministry of Economy has invested 670 million euros in energy projects, in 2011

Agerpres - ROMANIAN ECONOMIC HIGHLIGHTS, January 3, 2012, No. 1. The Ministry of Economy, Trade and Business Environment (MECMA) has invested in 2011 the amount of 670 million euros in energy sector projects, MECMA announced in a release. In February 2011, Lotru Ciunget Hydro Power Station re-started its operations at the end of equipment refurbishment works taking place during 2007-2011. The contract, worth 88 million euros, was financed by the World Bank through a loan that covered about 75 percent of the works value, the difference being borne by Hidroelectrica from own sources. Lotru-Ciunget Hydro Power Station has an installed capacity of 510 MWh. In March, installations of fluid density at Isalnita and Craiova Power Plants started operations, based on an investment of 60 million euros, the money coming from own sources - 28 million euros and from a bank loan granted by CEC, Alpha Bank and BCR, worth 32 million euros. In August 2011, a contract was signed and work began at the desulphurization installation at Isalnita Power Plant, groups 7 and 8. The investment is worth 78 million euros, financial resources being provided in proportion of 80 percent by a bank loan granted by BCR and BRD, guaranteed by the Eximbank, and 20 percent from its own sources by Craiova Energy Complex. The works will be completed in November 2013. After completion of this investment, Isalnita Power Plant is to also complete the compliance program with the environmental permitting regulations. In September 2011, installations for desulphurization of the blocks 3, 4 and 5 of Turceni Energy Complex were started, following that, in January 2012, works to be completed at block 6 desulphurization installation, the last to require such work . The overall investment, launched in 2008, was in amount of 220 million euros, fully covered by a credit from the International Cooperation Bank of Japan. Also, an investment of 100 million euros is under way, completed in a proportion of 80 percent, at the dense fluid installation. The works will be completed in October 2012. In September desulphurization installations started operations at blocks 3 and 6 of Rovinari Energy Complex. The overall investment, started in 2009, was of 97.5 million euros and the amounts were provided via a loan from Unicredit, worth 77.5 million euros, and from own sources. In November, a contract was signed and work began at the desulphurization installation of Craiova 2 Power Plant, groups 1 and 2. The investment is worth 53.4 million euros, financial resources being provided from the European funds - 21.2 million euros and the remainder from bank loans. After completion of this investment, Craiova 2 Power Plant will also conclude the authorization procedure for environmental compliance. In December 2011, a new hydroelectric power plant was inaugurated on the Olt, at Robesti, Valcea. Hidroelectrica invested in Robesti, from own sources, 75 million euros. ,,Works were started in 1989 and, due to the policy that we introduced in the field of investments, to prioritize objectives and to provide funding sources for those near completion, we have concluded the construction this year. The Station in Robesti has an installed capacity of 27.1 MW and will produce 74 GWh / year. The Power Station is part of the hydro energy system on the River Olt, on Cornetu-Avrig segment, development comprising five capabilities of production: Cornetu, Robesti, Caineni, Racovita, Avrig ", stressed Ion Ariton, Minister of Economy, in the activity report on 2011.