Energy infrastructure
Romania
Investment — not M&A
24 Aug 2026
Romania's Electrica commits up to €235M to two cogeneration plants in Craiova
Electrica's shareholders approved — and the company signed the construction contract for — two gas-fired, hydrogen-ready cogeneration facilities in Craiova: a plant of roughly €157.5M supplying the city's district-heating system (about 82 MW of electrical capacity), and a roughly €65.5M plant serving the Ford Otosan industrial platform. The total investment is estimated at up to €235M excluding VAT.
Our take
Not a transaction, but it belongs on the map: CEE is in an energy-infrastructure capex cycle, and money of this size lands locally — in construction, engineering, maintenance and services around every such project. Buyer interest in businesses along those value chains tends to follow a year or two after the capex wave starts.