Termoelectrica
Romania | Utilities- Identification Code:
- OP/01/0992
- Total Operation Cost:
- 250.000.000 USD
- Maturity:
- 36 months
- Operation Status:
-
BSTDB Approved Amount – Approval Date15.000.000 USD – 14 Dec 2001
-
BSTDB Signed Amount – Signed Date15.000.000 USD – 21 Jan 2002
-
Status:Completed
- Description and Purpose of the Operation:
- Participation in Syndicated Trade Related Facility for purchase of raw materials
- Countries of Operation:
- Romania (100,00%)
- Financial Product:
- Trade Finance
- Sector:
- Utilities
- Domain:
- Private
- Borrower/Client:
- The Romanian government has established Termoelectrica S.A. in 2000, as the state monopoly producer of thermal electricity and heat. In the year (2000) of its separation from the rest of power producers, Termoelectrica produced 78% of the electric power and 60% of the thermal energy in Romania. 80% of the produced electricity by Termoelectrica is supplied to the industrial sector, while the remaining 20% are sold to private households. The energy inputs used by Termoelectrica are coal (19% imported), fuel oil (65% imported) and natural gas (70% imported). The company's management came from the former National Electricity Company.
- Co-Financers/Participants:
- Commercial banks
- Guarantors/Sponsors:
- —
- Developmental and Regional Cooperation Impact:
- - support of a strategic utility; - import of energy inputs from BSTDB member countries; - cooperation with the Romanian government on the paramount task of restructuring of the energy sector.
- Environmental Classification and Impact:
- The environmental performance of Termoelectrica was very poor at the time of appraisal but it was assumed that a substantial progress was being made. PEO was unable to obtain evidence of major progress in this area and is of the opinion that it is unlikely that pressing EU standards will be met in time, by the anticipated entry into the EU in 2007.
- Operation Leader:
- Energy & Infrastructure
- E-mail:
- ei@bstdb.org
As of 28 Feb 2026
