The Iraqi energy company Mass Group Holding (MGH) plans to invest over €1bn to turn the Mintia coal-fired thermal power plant, located near Deva in western Romania, into a 1.5 GW power plant running on gas and hydrogen. The first stage of the investment will last 24 months, while the entire project is expected to be completed within 36 months.
Mass Group Holding bought the insolvent Mintia power plant in December 2022 for €91.2m. One of the agreements original terms was to build a matching power plant by the end of 2026 with at least 1.29 GW in capacity, of which at least 800 MW had to work on gas and renewables. The project was upgraded to to install a hydrogen-ready gas power plant of a minimum 1.5 GW.
In June 2022, the Romanian government announced plans to phase out of coal by 2030, two years prior to the original objective set for 2032 (originally announced in 2021).
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