EGL has 160m-euro projects on energy generation market

EGL Gas & Power Romania, one of the leading energy and natural gas traders, with turnover worth 85 million euros last year, says it has projects worth 160 million euros under development. EGL Gas & Power Romania is part of Swiss group EGL, with turnover worth 2.8 billion euros last year from energy and gas trading. The Romanian branch was established in 2003, and posted turnover worth 7 million euros as early as in 2004. The big boom occurred in 2005, when the company’s business exceeded 73 million euros, making EGL Romania one of the leading energy traders on the Romanian market. From 2006 until now, the company’s turnover remained the same in euros – 85 million euros, and the company is currently more interested in energy generation. “We have a plan approved at group level, to invest in a 50-MW gas power plant, a 30-MW wind power farm located in central Romania, about 100 kilometres away from the city of Craiova, as well as in a gas storage facility. In two years’ time, I think we will be done with the entire paperwork and we will get the projects going,” says Stroe. According to him, the funds will come from credits. On average, the investment for installing 1 MW of capacity for the gas power plant amounts to 1 million euros, while for wind power, it is of around 1.7 million euros. The investment in the storage facility will amount to 50-60 million euros.