BUCHAREST – Romanian state-owned gas production company SNGN Romgaz SA (BVB: SNG) has announced an extension of the completion and operation period for its investment in the Iernut “CCTG combined cycle power plant”, setting the new deadline of June 30, 2025. This comes after an amendment to the decision The government extends the terms of the National Investment Plan (NIP).
The company is also listed in London Stock Exchange (LON:) (LSE), disclosed this development through an addendum to its financing contract initially signed on December 7, 2017. The latest government decision, No. 1.489 dated November 21, 2024, amends the previous decision No. 1.096/2013, which stipulated on the allocation Free transitional CO2 certificates for electricity producers for the period 2013-2020.
Appendix No. 10, which was signed by both parties and registered with Romagas on December 23, 2024, not only extends the project completion date, but also adjusts the payment period for investment expenses to December 31, 2025. This move aims to amend the financing conditions and schedule Investment as stipulated in the original contract.
The Ernot power plant project, which has been the subject of previous reports, including one dated December 11, 2017, is part of Romania's efforts to modernize its energy infrastructure. Romgaz CEO, Rāzvan Popescu, confirmed the conclusion of the addendum, which is consistent with the company's strategy and complies with the relevant financial instruments and market operations laws.
This adjustment to the investment timeline is important to stakeholders and investors, reflecting the continued commitment to completing the power plant project within the revised time frame. Market and industry observers will continue to monitor the project's progress and its impacts on Romgaz's operations.
The information in this article is based on a press release issued by Romgaz.
This article was created with the power of artificial intelligence and reviewed by an editor. For more information, see our terms and conditions.
