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Denisson Energy gets a $ 2 million bridge loan from FREE for developing CNG stations

28 January 2019

The Romanian Energy Efficiency Fund – FREE has granted a $ 1.96 million bridge loan to Denisson Energy (Sibiu) to support a total investment of nearly $ 6 million. This is the 41st grant agreement of FREE’s, and thus the Fund reaches a volume of $26 million allocated for promoting projects for efficient energy use and capitalization of renewable energy sources.

The investment for the “Establishment of the first compressed natural gas (CNG) supply network in Romania” is supported by Denisson Energy and the Association of Producers and Users of Compressed Natural Gas from Romania, from own sources and resources allocated under a non-reimbursable financing contract, concluded with the Innovation and Networks Executive Agency – INEA.

Mihai Voronca, executive manager FREE (L) and Dănuț Zgripcea, sole administrator Denisson Energy (R)

The project aims to build a 9 CNG stations network in Romania “to simultaneously cover the potential demand from transiting long-distance transport and the potential demand from urban transport in the most populated areas”. An tentative list of locations includes Arad, Bucharest, Constanta, Craiova, Deva, Drobeta Turnu-Severin, Pitesti, Sibiu and Timisoara. The project is planned in three consecutive phases, resulting in the implementation of 3 CNG stations per year between 2019, 2020 and 2021. The stations will be publicly and non-discriminatory accessible, operated by trained personnel and will allow for cash or card payments at the point of sale inside the station cabin.


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