The Doicești nuclear mini-reactor project and the 5,000 MW high-voltage direct current (HVDC) line that will cross Romania from east to west have attracted investors from the US, Europe and Asia, but two of them are attracting attention because they are involved in both cases. These are Texans from Fluor Corporation and, in particular, Romanians from E-INFRA and Nova Power & Gas SRL, companies with a controversial past, with characters from the world of special services.
Brief history:
- On June 13, 2023, Nuclearelectrica, NuScale Power, E-INFRA, Nova Power & Gas SRL, Fluor Enterprises and Samsung C&T Corporation signed a Memorandum of Understanding to cooperate on the implementation of NuScale small nuclear power plants in Deutschland.
- In May 2023, Transelectrica, Taqa, Meridiam, Fluor and E-Infra started cooperation for the implementation of a 5,000 MW High Voltage Direct Current (HVDC) line project from the territory of Romania, on the BRUA main gas corridor and the future main Tuzla – Podisor.
- In both projects we find Americans from Fluor Enterprises and Romanians from E-INFRA, the group that also owns Nova Power & Gas SRL.
The American corporation Fluor Corporation is huge, listed on the New York Stock Exchange and has a turnover of about 15 billion dollars a year. It is a multinational engineering and construction company headquartered in Irving, Texas. Works in the field of electricity, oil and gas. It is involved in major projects, including rebuilding after the Iraq War or Hurricane Katrina, as well as the construction of the Trans-Alaska Pipeline System.
Nova Power & Gas SRL, from gas supply to nuclear reactors
Obviously, among the companies participating in both projects, the Romanian group E-INFRA, owned by the brothers Simion (30%) and Teofil Mureșan (40%) and Marian Pantazescu (30%), is attracting the most attention, Termene reports. .ro data. Nova Power & Gas SRL, located in Cluj-Napoca, is also part of the E-INFRA group. In fact, the Muresan brothers entered the Doiceşti reactor project through two companies: E-INFRA and Nova Power & Gas SRL. In addition, they are the owners of the site. The main field of activity of Nova Power & Gas SRL is gas supply.
In early 2021, Nuclearelectrica received $1.2 million from USTDA to identify and evaluate potential sites for small modular reactors. In May 2022, after the completion of the study, several potential sites were identified, but the location of the former thermal power plant in Deutszcz, Dambovice County was chosen.
On May 24, 2022, Nuclearelectrica, NuScale and Nova Power & Gas, the site’s owner, signed a Memorandum of Understanding (MOU) to analyze reactor development at Deutschest.
On September 27, 2022, Nuclearelectrica SA and Nova Power & Gas SRL launched RoPower Nuclear SA, a project company for the development of small modular reactors in Romania, on the site of a former coal-fired power plant in Deutscheste, Dambovita county. RoPower is owned equally by Nuclearelectrica SA and Nova Power & Gas.
On January 4, 2023, NuScale Power, LLC (NuScale) and RoPower signed a contract for engineering design and design (FEED) work, consisting of a series of initial engineering and design work and studies, technical analysis of the site of the former plants in Deutschland, schedule and cost estimates , specific to the project in Romania.
On June 13, 2023, Nuclearelectrica, NuScale Power, E-INFRA, Nova Power & Gas, Fluor Enterprises and Samsung C&T Corporation signed a Memorandum of Understanding to cooperate on the implementation of small modular plants.
On July 5, 2023, DS Private Equity (“DSPE”) signed a terms agreement with Nuclearelectrica and Nova Power & Gas, intending to invest €75 million in the development of the FEED study.
A remarkable 218% growth in turnover and 912% growth in just one year
Last year, Nova Power & Gas registered a turnover of 1.85 billion lei, an increase of 218% compared to 580 million lei in 2021 and 297 million lei in 2020. In addition, the profit increased significantly, reaching 229 million lei compared to In 2021, it had a loss of 28.2 million lei and a profit of 5.9 million lei in 2020.
In fact, the company had an impressive development in one year as a supplier of gas and electricity.
E-Infra, the group that Nova Power & Gas is part of, also owns Electrogrup, Direct One, Wesee and Netcity. Last year, its turnover amounted to 21.32 million lei, which is 96% more than in 2022, but a much higher profit: 186 million lei, which is 156%.
Nova Power & Gas, the past with characters from the world of special services
According to Termene.ro, until January 2015, Nova Power & Gas was called Amgaz Furnizare SRL. Administrators in the past included Rares Christe from Cluj, one of those considered “smart guys” in energy. In 2013, the company Energon Power&Gas, controlled by Rares Christe, was involved in a huge scandal in the Hidroelectrica Bribe case, at the time in the focus of DNA. In short, Hidroelectrica had to deliver a huge amount of energy (7 million MWh over 4 years), a bribe of 1.4 million euros was at stake. The story was intercepted by DNA prosecutors.
In 2013, HotNews.ro wrote that Rares Kriste was involved in business with Alin Ardelean, son of Virgil Ardelean, former head of Doi and aquarter, through Ten Transilvania Energy. Christe was a partner in SC Amgaz Furnizare, a company that does business with the state-owned companies Romgaz and Distrigaz. One of the partners of Rareș Criste and Alin Ardelean at the time was Teofil Muresan from Cluj, who controlled Ten Transilvania Energy through Electrogrup.
At the time of its foundation, Amgaz Furnizare was controlled by two Americans: Peter Brown, a businessman involved in the sale of the Alro Slatina plant to the Russians, and Michael Myron Einik, a former American diplomat in Bucharest in the 90s, under the mandate of Ambassador Alfred Moses, and to cooperate in consultations with former generals of the special services of Romania (DGIA and STS), writes Panorama.ro. Also involved in Amgaz was Monica Rosu, the daughter of Horia Rosu, a former adviser to Dan Ioan Popescu, the controversial energy minister under Adrian Nestace’s government.
Who are the other investors?
In addition to the Texans from Fluor and the companies of the Muresan brothers, the Doicești project also involves:
– Nuclearelectrica, a Romanian state-owned company that also owns the Cernavoda nuclear power plant
– the American company NuScale Power, which develops and sells small modular reactors
– South Koreans from Samsung C&T Corporation, a construction and engineering company that is part of the giant Samsung group.
In the case of the HVDC interconnector, in addition to the E-Infra group and the Americans from Fluor, the following are also involved:
– National company for electricity transportation – Transelectrica
– Taqa (Abu Dhabi National Energy Company PJSC) is the national utility company of the United Arab Emirates
– Global investor and asset manager Meridiam, specializing in public and public infrastructure. The head office is in Paris, and investment funds are located in Europe, North America and Africa.
Read also:
- Why Germany’s small nuclear reactors are increasing / Americans with NuScale Power say that the increase in capacity will not affect safety
- Chaotic development of the energy sector in the absence of a national strategy: Romania is headed for overproduction of electricity, increasing dependence on gas imports
Source: Hot News
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.