Power Plant Modernization in Romania

Delphos completed an analysis of financing options for a U.S. Trade and Development Agency (“USTDA”) funded feasibility study for the installation of flue-gas desulphurization systems at a major Romanian lignite-fired combined heat and power plant. The project is estimated at $100 million in two phases. Delphos recommended a financing strategy that considers the historic financial performance of the plant, its current net worth, and projected profitability in the context of Romania’s deregulated and fast-changing electricity market.



  • Renewables & Power

Client Name

RAAN (Romania)

Services Provided

  • Transaction Advisory


  • Central & Eastern Europe


  • Romania