According to the Romanian aluminium producer, Alro SA, one of the largest vertically integrated aluminium producers in Europe, measured by production capacity, the company was declared a "selected investor" following a public tender organized by Complexul Energetic Oltenia (CEO) to build a natural gas fired power plant at Isalnita together.
Complexul Energetic Oltenia is a 40-year-old provider of National Power System safety. The energy supplier stated that the wind does not blow continuously, while during cloudy and rainy days, the solar system's efficiency drops, and the sun does not shine all the time. Instead, the coal of Complexul Energetic Oltenia can provide electricity for Romania for the next 40 years, which is possible based only on the reserves discovered so far.
Marian NĂSTASE, the Chairman of Alro, said, "This partnership will offer ALRO the opportunity to diversify its business model, as the security of supply for electricity is a must for the aluminium industry and will support the Group's long-term development plans in a very challenging business environment."
"While this is a very complex endeavour, we are confident we will be successful, having a strong partner, CEO, that understands the new realities of the energy market and demonstrates it knows how to adapt to them."
Based on the tender announcement, Complexul Energetic Oltenia and ALRO will establish an SPV to construct the 850 MW natural gas power plant, subject to both companies' approval. It will replace two old coal-fired blocks of 315 MW each.
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