United Energy Moldova, subsidiary of J&T Finance Groups, has signed an agreement with The Republic of Moldova to invest 600 million euros to build a coal fired power plant in the town of Ungheni.
This investment will also be used to construct a 400kV transmission line connecting to Iasi in Romania.
The 350 MW power plant is expected to be launched in 2015 and will contribute to at least 20% of Moldova’s power consumption, helping Moldavia with its energy security. The 400kV transmission line will also allow electric power to be sold in the European Union thus reducing the cost for customers in Moldova.
J&T Finance Groups (www.jtfg.com)
J&T Finance Groups is an investment group operating in the Czech Republic and Slovakia. They are one of the main players in the investment industry throughout Central and Eastern Europe. The company has four primary areas of interest including corporate investments, private banking & financial services, real estate development.
Corporations owned or administered by J&T now employ more than 7,000 people and generate sales of approximately € 600 million.
J&T Finance Groups mainly invests in companies active in the energy, engineering and meat industry market. On a case-by-case basis, J&T Finance also considers investments in other markets.