Romanian company Denisson Energy has received a bridge loan from the Romanian Energy Efficiency Fund (FREE) to finance a network of Compressed Natural Gas (CNG) stations.

The company is part of the business group Antares, controlled by local entrepreneur Dumitru Becsenescu.

The stations are aimed at supplying cars using CNG as fuel. They are located along the natural gas pipelines operated by Transgaz along the TEN-T Corridor in Romania. The project thus requires a relatively small volume of investments: USD 5.9 million, out of which FREE will cover nearly USD 2 million for the beginning, local Economica.net reported. The investment will also be financed with a combination of own resources and grants from the European Union.

The cities where the first stations will be installed are Arad, Bucharest, Constanta, Craiova, Deva, Drobeta Turnu-Severin, Pitesti, Sibiu, and Timișoara. The CNG station will thus cover the demand for both long-distance and urban transport. The typical distance between two stations will be 150 km and will never exceed 300 km.

Denisson Energy will build three stations per year in the next three years.

editor@romania-insider.com

(photo source: Cngromania.eu)