An Iraqi company will become one of the largest electricity producers in Romania, after completing the construction of a gas plant and large storage capacities
Representatives of Mass Global Energy Rom SRL, the Iraqi company that is building a large natural gas power plant in Mintia, had a meeting with Prime Minister Ilie Bolojan at the Victoria Palace on Thursday. The discussions focused on the state of work on the plant which will have an installed capacity of 1,700 MW, and will be the largest gas plant in the EU. But, on this occasion, the Iraqis announced that they also intend to invest in large storage capacities of 2,500 MW.
With such investments, the Iranian company could become one of the largest energy producers in Romania. For comparison, a nuclear reactor at Cernavodă has a capacity of 700 MW, and the gas-fired power plant at Brazi, owned by OMV Petrom, has an installed capacity of 860 MW.
Mindia is currently controlled by Mass Global Energy Rom, a company set up specifically for this acquisition, part of a group from Iraq, registered in the Cayman Islands.
The Mintia plant will be completed this year and will be the largest in the EU
“According to the company, the objective of the Mintia project is to achieve, this year, an installed capacity of 1,700 MW, the plant will become, upon completion, the largest gas-fired power plant in the European Union, on a single site,” says a Government statement.
According to him, until now, about 1.2 billion euros have been invested in Mintia. Commissioning tests of the gas turbines are scheduled for this year, and electricity production is expected to begin in September 2026.
The Prime Minister promised to support the completion of the connection works to the Transelectrica network
The Government's communique also shows that another topic was the acceleration of the works to complete the connection to the National Energy System, carried out in collaboration with Transelectrica, in order to comply with the schedule for putting the plant into operation.
The completion of the connections will allow the plant to operate at full capacity, with an estimated annual consumption of up to 2.5 billion cubic meters of natural gas.
“Prime Minister Ilie Bolojan conveyed that the Government will support the completion of the connection to the Transelectrica network as soon as possible,” the statement states.
1 billion euro investment in energy storage capacities
During the meeting, Mass Global Energy Rom announced its intention to develop in Romania a new investment in BESS (Battery Energy Storage System) electricity storage capacities. The value of the investment is estimated at 1 billion euros.
The project would have a total capacity of 2,500 MW, distributed in four to five locations, including Mintia. The project aims to balance the energy system and provide power during peak hours.
Own pipeline
In 2024, the Government approved a draft decision regarding the declaration of the Mintia plant as a project of national importance in the field of electricity.
According to the decision approved by the Government, the power plant will be supplied by a new natural gas transport pipeline, made by Transgaz and connected to the BRUA pipeline.
The total value of the pipeline construction project is 300.6 million lei (approximately 60.4 million euros), of which 33.9 million lei (6.8 million euros) is financed by the Modernization Fund.
The costs related to construction and commissioning will be financed from own sources or attracted by the company Mass Global Energy Rom SRL
How the Iraqis got to Mindia
The Mintia thermal power plant was bought in 2022 for 91 million euros by Mass Global Energy Rom, part of the Mass Group Holding group, a company established specifically for this purchase, part of a group from Iraq, registered in the Cayman Islands. It was sold by Complexul Energetic Hunedoara, in 2022, through a judicial administrator for 91 million euros, after at least 150 million euros were invested in the renovation.
The Mintia thermal power plant has been in insolvency since November 2019 and in conservation since 2021.
Through the National Integrated Energy Climate Change Plan (PNIESC) 2021-2030, Romania has undertaken to complete, by January 1, 2026, a capacity of at least 860 MW at the Mintia plant, with the possibility of expansion up to 1,700 MW.
The new plant at Mintia will have a capacity of 1,770 MW and will operate on gas. Mass Global Energy Rom has the obligation, until December 31, 2026, to complete the investment to create a new energy capacity with an installed power of at least 1,290 MWH, of which at least 800 MWH in the gas and renewable energy band. The investment is valued at 1.4 billion euros.
