Duro Felguera | Cotización

Conventional Energy

11 May 2023

Romgaz contracts Duro Felguera to complete Iernut’s combined cycle power plant

Duro Felguera has signed two agreements with the Romanian natural gas and electricity producer Romgaz for the completion of the works at the Iernut combined cycle power plant:

  • The first, “the transaction”, has as its object the agreed settlement of the original contract signed by Romgaz and the consortium formed by Duro Felguera and the Romanian Romelectro and the mutual waiver of any claims relating to that contract.
  • The second agreement is the contract for the execution of the works necessary for the completion of the combined cycle power plant for an amount of 345 million Lei (approximately 69.8 million euros), which will be executed entirely by Duro Felguera, with a term of 16 months from the date of the order to start the works.

The signed agreements are the result of constant and persevering work by Duro Felguera to reach an agreement for the completion of the project, which has been managed within the necessary legal framework in Romania.

Work is expected to start in the second quarter of this year. The company thus complies with what was stated in the IRR of 20 June 2021, registration number 10105, in which Duro Felguera expressed its willingness to complete the full execution of the works, in accordance with its guideline of successfully completing the projects, within the framework of a firm commitment to its customers and the provision of valuable solutions.

The Iernut combined cycle has an installed capacity of 430MW and includes four gas turbines plus four recovery boilers for steam production with three pressure levels and two steam turbines.

The CEO of Duro Felguera, Jaime Argüelles, expressed his satisfaction with these agreements on two fronts. Firstly, for finally facilitating the start-up of a strategic infrastructure such as the Iernut plant and concluding the work, thus fulfilling the objective that the Company communicated to the market at the time on the occasion of the early completion. Secondly, for once again demonstrating that “Duro Felguera responds as a leader in combined cycles and knows how to offer its customers solutions and differential value with management focused on the successful completion of projects and the full satisfaction of our customers”.

The CEO of Duro Felguera, Jaime Argüelles, and the Director of Conventional Energy, Camino Sánchez, together with other project managers, pose with the Romgaz team, including its CEO, Razvan Popescu, outside the Iernut power plant, on the occasion of a meeting held on 19 April.