A leader on Romanian energy market with six branch offices, Energomontaj is now undertaking projects in Estonia, Denmark, Belgium and France. The company already has subsidiaries in Estonia and Denmark and aims to set up a branch in Poland in the near future and is currently negotiating to rehabilitate six hydropower plants in Latvia.
Energomontaj has around 2,000 shareholders and 2,000 employees and achieves annual turnover of approximately €90 million. In March 2015, it was awarded a syndicated loan of around €33 million by a group of Romanian and international partners headed by BRD-Groupe Société Générale. This financial support reflects international confidence in Energomontaj and in Romania.
CEO Horia Stefanescu explains, “We are also partnering with Orascom to install four power stations in Egypt, and we are completing projects for Hidroelectrica in Siriu and Bretea here in Romania as well as a project with Romelectro concerning hydropower plants in Stejaru and on Jiu River.” Energomontaj has been successfully working with foreign partners since 1995, handling projects for Alstom (ABB), Siemens and other leading global players.
Expanding internationally through partnerships
Energomontaj welcomes the chance to form more international partnerships. Explaining his company’s competitive edge, Horia Stefanescu says, “Energomontaj has extensive experience in working abroad, and we have always fulfilled our obligations. For many of our clients, we have concluded several contracts. Clients who are not satisfied with a company do not work with that company more than once.” Energomontaj aims to get involved in new fields, including petrochemicals and the cement industry, and is already partnering with Lafarge, Holcim and others.
Horia Stefanescu urges international investors to seek out opportunities with Energomontaj. He says, “In Romania, there are many possible projects, including for a waste-incineration facility. Concerning hydropower, it can not only provide energy but also irrigation for agriculture, and we have completed this type of dual-use plant on the Olt River in Romania. Projects like this would be very interesting for many European countries.”