ALRO, one of the largest vertically integrated aluminium producers in Europe, announces that it was declared as “selected investor” following a public tender organized by Complexul Energetic Oltenia (CEO) to build together a natural gas power generation plant at Isalnita.

“This partnership will offer ALRO the opportunity to diversify its business model, as the security of supply for electricity is a must for the aluminium industry and will support the Group’s long-term development plans in a very challenging business environment”, said Marian Nastase, Chairman, ALRO. “While this is a very complex endeavour, we are confident we will be successful, having a strong partner, CEO, that understands the new realities of the energy market and demonstrates it knows how to adapt to them”, added Marian Nastase.

Under the terms of the tender announcement, CEO and ALRO will negotiate the establishment of a SPV that will build the 850 MW natural gas power plant, subject to both companies’ corporate approvals. This will replace two old coal-fired blocks of 315 MW each.