Renewables

Romania’s Chimcomplex eyes EUR 1 billion investment in hydrogen facility 

Chimcomplex hydrogen

Photo: Chimcoplex

Published

February 25, 2021

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Published:

February 25, 2021

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Chemicals producer Chimcomplex plans the construction of a hydrogen production plant at the location of the Oltchim plant in Vâlcea. The investment is estimated at EUR 500 million to EUR 1 billion.

Local businessman Stefan Vuza, the owner of the Chimcomplex, said that the construction of the hydrogen plant could be financed from the European Union’s funds intended for the implementation of the European Green Deal, but also from the Energy Efficiency Fund.

Chimcomplex, the biggest chemical group in the country, has two plants: Oltchim in Vâlcea, and Chimcomplex in Onești.

Chimcomplex also intends to include other companies from Romania in the project

The company has the necessary experience and knowledge from the activities in the Oltchim facility and in the Research Institute of Hydrogen and Cryogenics in Vâlcea, Vuza said in an interview for Agerpres.

Chimcomplex also intends to include other companies from Romania in the project, for example fertilizer producer Azomureș, pharmaceuticals producer Terapia and scientific institutions.

“I believe that Romania has the chance with hydrogen because it has experience. The plants are 60 years old, the institute is here, the market is here, I don’t see how we could not be among the beneficiaries of the EU funds,” Vuza said.

In the last few years, hydrogen is increasingly seen as a solution for many problems in the implementation of the energy transition.

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