The shareholders of the state company Titan Power SA, established last year, are currently developing the documentation required by legislation to be presented for analysis to the Competition Directorate General of the European Commission, but also to the Competition Council in Romania, regarding the increase of the company’s share capital with 140 million lei, money to be used for the construction of a new electricity and thermal power plant for cogeneration in the Capital, in the Titan district of Bucharest.

Titan Power SA is controlled by the State Assets Energy Management Company (SAPE), with 99% of the capital, the rest of the shares being owned by Electrocentrale Grup. Both shareholders of Titan Power are wholly owned by the Ministry of Economy, according to Profit.ro.

SAPE will come with cash worth about 95.9 million lei, and Electrocentrale Grup will contribute in kind, with the Titan land on which the new plant will be built. The land, together with the buildings and other real estates it hold, was valued at over 44 million lei.