The Kazakh-Romanian Energy Investment Fund (KREIF) said on March 21 that the new cogeneration plant built on the Petromidia platform in Romania is more than 80% complete.

The project is currently in the execution phase, with progress of around 95% on the engineering side, more than 96% on the procurement side, and nearly 72% for the actual construction. In total, the general progress of the project surpassed 82%.

The project, worth over USD 164 million, is financed by the Kazakh-Romanian Energy Investment Fund (KREIF). The investment is a brownfield type and will integrate the assets transferred from Midia Green Energy (former Uzina Termoelectrică Midia), as well as its staff, for the operation of the new plant's equipment.

The two heat recovery steam generators (HRSG) were delivered to the construction site near the refinery in Năvodari, each with a technological steam production capacity of 90 tons/hour plus additional combustion capacity, according to the press release. In addition, transformers, pumps, boiler degassers, aerators, electrical cables, and underground piping systems were also delivered and installed.

Works are ongoing at the modernization of the 110 KV power station, the installation of the natural gas supply pipeline with a length of 4 km and the technological pipelines, as well as the DCS (Distributed Control System), which has the role of controlling the processes, in the first-rate conditions of safety and operational efficiency.

"The most important equipment has arrived, is in position, and we can say that the new energy production capacity on the Petromidia platform will use the latest cogeneration technologies. The created assembly will allow us to function as an element of streamlining the utilities used by the refinery, which will ensure its energy needs exclusively from the cogeneration plant," said Boris Bucur, General Manager of Rompetrol Energy.

The new power plant will generate approximately 80 MW of electricity, of which about 60-70 MW will be for the full coverage of the electricity needs of the Petromidia platform and technological steam of up to 180 tons/hour, corresponding to the maximum consumption needs of the platform.

On August 19, 2020, the Kazakh-Romanian Energy Investment Fund signed with Calik Enerji (Türkiye) the EPC (Engineering, Procurement and Construction) contract for the turnkey construction of the cogeneration plant, as well as the LTSA (Long Term Service Agreement) contract with Siemens Energy, for the maintenance of gas turbines.

The Kazakh-Romanian Energy Investment Fund was established in October 2018 as part of the Memorandum of Understanding concluded in 2014 between KMG International and the Romanian State. Its main objective is to pursue the development of energy projects in Romania.

In addition to the cogeneration plant on the Petromidia platform, KREIF also aims to develop a fuel distribution network under the Rompetrol umbrella. In line with the strategy adopted in 2019 by its shareholders – KMG International and the Romanian State through SAPE – the fund aimed to reach, by 2025, a total number of 84 units. Currently, it owns 48 completed stations, of which four stations are to enter operation in the next period.

The total investments implemented by KREIF amounted to USD 315 million at the end of 2022.

The Petromidia Năvodari refinery is operated by Rompetrol Rafinare, a company owned by KMG International (54.63% – directly and indirectly) and the Romanian State through the Ministry of Energy (44.7%).

irina.marica@romania-insider.com

(Photo source: Facebook/Rompetrol-KMG International)