BUCHAREST, Feb 5 (Reuters) - Private energy developer Mass Group Holding plans to invest 1 billion euros ($1.18 billion) in battery storage capacity across central Romania, the government said in a
Mass Group Holding to Invest €1 Billion in Romania's Battery Storage
Mass Group's Investment in Romania
BUCHAREST, Feb 5 (Reuters) - Private energy developer Mass Group Holding plans to invest 1 billion euros ($1.18 billion) in battery storage capacity across central Romania, the government said in a statement on Thursday after meeting the company.
Details of the Investment
The planned 2.5 GW power storage investment would be the biggest in Romania to date. The statement did not say when construction would start.
Impact on Energy Production
The holding's local unit, Mass Global Energy Rom, is already building a 1.7 GW steam and gas power plant that will replace outdated hard coal fired generation in the central Romanian town of Mintia.
Romania's Energy Goals
Power production at the Mintia plant is expected to begin in September, the statement said.
Romania is seeking to meet the European Union's carbon emissions reduction goals and to bolster energy security, which has become a more urgent issue since Russia's invasion of Ukraine in February 2022.
The EU state uses a mix of gas, coal, hydro, nuclear and renewable energy for electricity generation.
($1 = 0.8477 euros)
(Reporting by Luiza Ilie; Editing by Kirsten Donovan)
