New Pillar of Energy Security in Europe: Mintia Thermal Power Plant Back on the Energy Map

Construction of the Mintia gas-fired power plant, the largest in Europe, is nearing completion. With a total project value estimated at EUR 1.2 billion, this facility is poised to become a cornerstone of Europe’s energy security and a significant driver of economic growth for Romania.

The new power plant, located in north-western Romania, will play a key role in strengthening the energy infrastructure of Romania and neighbouring countries.

The old Mintia coal-fired power plant, which had been shut down for some time, was purchased in August 2022 for EUR 91.23 million, excluding VAT, by Mass Global Energy Rom, part of the Mass Group Holding, in a public auction in which it was the only bidder.

The power plant entered insolvency proceedings on November 14, 2019, and was placed in conservation in the summer of 2021, due to a lack of the investments needed to comply with European Union environmental regulations.

A few years down the line, Mintia is preparing to once again become a benchmark for the Romanian and European energy sectors.

 

Project declared of national importance

In 2024, the Romanian government declared the ‘MASS Mintia Power Plant’ project to be of national importance in the field of electricity. This decision underscored the authorities’ commitment to ensuring the country’s energy security, modernizing the National Energy System (SEN), and supporting economic development through strategic investments.

The new power plant, located in Hunedoara County, will operate using modern and efficient technologies, utilizing gas and steam turbines, with a total installed capacity of 1,770 MW. The plant will produce approximately 12,159 GWh of electricity annually, with a projected lifespan of 30 years.

The new power plant will play a key role in strengthening the energy infrastructure of Romania and neighbouring countries.

Romania’s energy network is already interconnected with Hungary, Ukraine, Moldova, Bulgaria, and Serbia, which is crucial for ensuring a robust and reliable energy supply throughout the European region. Romania’s gas network connections with Hungary and Ukraine guarantee a constant supply of natural gas, which is essential for the plant’s operation.

The project is expected to start generating electricity in the first quarter of 2026 and be fully operational by the end of the year.

 

Equipment supplied by Siemens

The project, developed by Mass Group Holding (MGH), a company set up specifically for the acquisition in 2022 of the bankrupt coal-fired power plant and part of a Jordanian group registered in the Cayman Islands, involves the construction of a natural gas-fired power plant equipped with two SGT5-9000HL gas turbines, one SST5-5000 steam turbine, and three SGen5-3000W generators, all supplied by Siemens.

Mintia will help Romania become a net energy exporter with the gas to be extracted from the Black Sea. In order to access this gas, Transgaz, the operator of the national gas transmission system (NTS) announced in mid-November 2025 the completion of the pipeline that will supply gas to the new power plant in Mintia. It can provide up to 2.5 billion cubic meters per year for the entire capacity of the power plant.

 

USD 500 million loan

The completion of the plant took a major step forward earlier this year after Emirates Islamic, one of the leading Islamic financial institutions in the United Arab Emirates, announced a landmark structured financing transaction worth USD 500 million granted to Mass Group Holding, according to Trade Arabia.

“The funding will be used to construct a natural gas fired power plant with an impressive capacity of 1.7GWh, in Romania, set to be the largest of its kind in Europe. With a total project value estimated at EUR 1.2 billion, this facility is poised to become a cornerstone of Europe’s energy security and a significant driver of economic growth for Romania. The new power plant, located in north-western Romania, will play a key role in strengthening the energy infrastructure of Romania and neighbouring countries,” according to Trade Arabia.

“The financing agreement with Mass Group Holding solidifies the position of Emirates Islamic as a leading regional Islamic financier known for its structured financing excellence,” said Mohammad Kamran Wajid, Deputy Chief Executive Officer of Emirates Islamic.

“This agreement underscores our unwavering commitment to ethical banking principles and our dedication to delivering advanced, Shariah-compliant financing solutions that meet the evolving demands of the market. Our financing in the development of Europe’s largest gas-fired power plant is not just about finance; it represents a significant leap towards achieving energy resilience, economic advancement and a greener future,” he added.

“We are proud to partner with Emirates Islamic, whose commitment to innovative financing solutions has been instrumental in making this ambitious project a reality. This USD 500 million funding from Emirates Islamic represents a monumental step forward for Mass Group Holding and the energy landscape of Europe. This project is a testimony to our vision for a secure and sustainable energy future,” Ahmed Ismael Saleh, Chairman of Mass Group Holding, said.

 

Projects for the use of gas extracted from the Black Sea

Gas production from the Neptun Deep field, which will double Romania’s domestic gas production, will start around mid-2027.

“In 2024, Romania produced 9.3 billion cubic meters. Romania is among the few countries that are not dependent on imports. The Neptun Deep project is perhaps Romania’s most important strategic energy project since the Revolution and one of the most important strategic energy projects of the European Union,” Secretary of State in the Ministry of Energy Cristian Busoi said during an energy conference held at the end of 2025.

“A large part will go to the energy system. The Mintia power plant will come on stream in the second half of next year, and the Iernut power plant will be ready. Some of the Black Sea gas will be used to produce electricity. Romgaz also has a plan to acquire Azomures, and we are talking about a better return on investment here.”

In addition, the official emphasized, Romania must completely phase out coal by 2030. “We will give up a large part of our capacities in the middle of next year, but significant capacities will remain at Complexul Oltenia and Jiu Valley. With the help of the Modernization Fund, we will build two more cogeneration plants, which will also require a significant amount of gas.”

Of the projects listed by Cristian Busoi, the only one progressing according to plan is the Mintia power plant.

Romgaz’s Iernut power plant has been delayed for years, and it is unclear when it will be ready, while the other two power plants (in Rovinari and Turceni, which were supposed to be ready in 2026) are also delayed, with no completion date set.

At the same time, Romgaz is analysing whether it can take over the Azomures chemical fertilizer plant, which was closed due to high gas prices, with no decision having been made to date.