China investments in energy projects of Romania, Serbia and Bosnia

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China and Romania have carried out productive practical cooperation within the framework of the 16+1 mechanism, and important breakthroughs have been made particularly in the energy sector including nuclear power, coal-fired power and hydropower.

Among the energy projects, Romania’s Rovinari power plant — a new 600 MW coal-burning power plant — ranks the most advanced. On Oct. 31, 2014,China Huadian Engineering Co. (CHEC) and Oltenia Energy Holding (OEH) of Romania signed an agreement on the construction of the power plant, with an investment of around 1 billion dollars.

The project was believed to bring advantages to the country’s overall economy for approximately 25 years.

On Nov. 10, 2015, China General Nuclear (CGN) signed a MoU with the Romanian national nuclear company Nuclearelectrica for developing, constructing, and operating Units 3 and 4 of the Cernavoda nuclear power plant.

According to Nuclearelectrica, the construction of the two units will double Romania’s nuclear power production capacity, while the emission of about 12 million tons of carbon dioxide will be reduced each year as a result.

“Such a project could not be possible without extensive cooperation between the Chinese and the Romanian authorities,” said Razvan Paunescu, Coordinating Consultant for CGN on the project.

He added that the 16+1 mechanism was an extraordinary platform, as it provides the framework for concrete and efficient partnership, based on a win-win cooperation principle.

Another example for energy cooperation is Serbia’s Project Kostolac, in which China Machinery and Engineering Corporation (CMEC) has helped revitalize two blocks (B1 and B2) of Serbia’s Kostolac thermal power plant, which will extend the plants’ lifetime for two more decades as the first phase of the project.

The second phase is the construction of a 350 MW new block B3, the first new energy facility in almost three decades.

Power plant Kostolac is very important for the Serbian economy because nearly 3,000 people are employed in power plants and coal mines, which means that almost 15,000 people are living on power plants, according to Nebojsa Misic, project manager of Kostolac power.

Serbia is very satisfied with the CMEC’s organization and works though it is the first Chinese company in Serbia’s power industry, he added.

Experts and officials from CEE countries all highly appreciate the 16+1 platform which has already materialized in concrete successful partnership.

“It is very important for Bosnia and Herzegovina to be part of a cooperation that surpasses the borders of regional cooperation and connects us with Europe and Asia,” said Denis Zvizdic, chairman of the Council of Ministers of Bosnia and Herzegovina. Chinese company Dongfang is completing the construction of new TPP Stanari and negotiates over new projects TPP Banovici and TPP Gacko2. TPP Stanari was actually a trigger event, first Chinese financed project in SEE region.

Source: Cntv

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