Arad Electric Power Plant (CET Arad) SA, the producer of electricity and thermal energy controlled by the Arad Local Council, now in insolvency, has concluded a contract of financing facility for the purchase of natural gas worth 8 million euro with the Swiss trader AOT Energy Switzerland AG, according to Profit.ro.
CET Arad and AOT Energy also signed a mortgage loan contract. “This amount (of 8 million euro – e.n.) represents the maximum capital that CET can unlock for financing the raw material needed for the operational activity during 2020. CET Arad has already benefited from 3 million euro for the purchase of the gas needed for thermal energy production and electricity for January,” say representatives of the judicial administrator of CET Arad.
In the near future, CET Arad will benefit from an additional 2.5 million euro for the guarantees related to the rental contract of a number of 14 new thermal engines and for the production of electrical and thermal energy related to these engines.
The future plans of CET Arad include the optimization of the production capacity, the improvement of the reaction time, the efficiency and, above all, the increased flexibility of the company, in order to obtain the accreditation for the provision of balancing services in the National Energy System (SEN).
CET Arad plans to create an aggregate unit, consisting of generator modules equipped with thermal motors that operate in high efficiency cogeneration, state-of-the-art thermal motors having a total installed electrical power of 21 MW, working together with a storage unit of 2 MW with lithium-ion batteries.