SAPE has been involved in numerous energy projects since 2018, Constantin Văduva, Chairman of the Executive Board, Energy Participation Management Company – SAPE SA, told at the 2019 Energy Strategy Summit, an event organized by energynomics.ro.
Based on the Memorandum of Understanding concluded by the Romanian State with The Rompetrol Group N.V., we have finalized last year the establishment of a Kazakh-Romanian investment fund. KMGI and SAPE SA have complied with the provisions of the Memorandum regarding the business component, and as far as the investment stages agreed through the Association Agreement are concerned, the investor has proved to be active in fulfilling the assumed investment obligations. At present, [11 June 2019, e.n.], the Fund has engaged in projects worth approximately $ 240 million, referring to two projects from the first stage – the Midia Năvodari cogeneration plant and the construction of a network of 66 new gas stations and the purchase of 18 existing gas stations to be held by the Fund”, Văduva said.
At the end of last year, SAPE also launched other energy projects. “We are in the stage of pre-feasibility and opportunity evaluation for some projects. Together with Electrocentrale Group we formed Titan Power SA for a first project of 50 MW of electric power and 410,000 MWh of thermal power on the site of the former Titan CET. I think it is a project that can be done relatively quickly, it is opportune, with potential for the municipality, given the problems of the term in Bucharest”, he added.
At the same time, SAPE is in negotiations for other association agreements. “We want to build a 200 MW power plant at Fantanele, Mures County. For this project we are in the pre-feasibility stage, as we intend to increase the current power to about 400 MW,” added Vaduva.
He said it was possible to take over the Constanţa power plant project, which now has assets under sequester. “It’s a pretty delicate problem, as assets are being seized. Constanta Power Plant representatives, together with the local authorities, must solve the problem of seizure and, if it is solved, we will include this project on our list of investment priorities.”