Greenprav invests EUR 35 mln in a biomass-fueled cogeneration unit in Busteni

Newsroom 28/03/2014 | 17:12

Romanian power producer Greenprav started the construction of a woody biomass-fueled cogeneration unit in Busteni (Prahova county), worth EUR35 million, town hall officials stated Friday.

The Irish company Prime Energy Power, main shareholder for SC Greenprav SRL Romania, started building the plant that will supply heat and electrical energy for the Busteni resort and all its sectors: industrial, commercial, public consumers. The plant will use wood mass from the Busteni region.

Busteni will benefit from the company’s assistance with environmental issues, making sure the forests and plantations are not damaged. By implementing this project, 140 new jobs will be created.

The total value of the investments is EUR 35 million, out of which EUR 17 million represent non-reimbursable funds and EUR 18 million direct financing from Greenprav. The contract was signed in July 2013, with the plant becoming operational in July 2015 according to estimates.