A significant financing milestone has been achieved for Romania’s Mintia gas-fired power plant after Emirates Islamic approved a $500 million structured funding package for Mass Group Holding. The deal ranks among the largest Islamic finance transactions linked to European energy infrastructure.
The funding will support construction of the 1,700 MW Mintia plant in northwestern Romania, projected to become Europe’s largest gas-fired power facility. The total project value is estimated at €1.2 billion, underlining its importance for Romania’s energy security and regional electricity supply.
Electricity production is scheduled to begin in Q1 2026, with full commercial operation expected by the end of the year. Local authorities in Hunedoara County confirmed that the first gas turbine will enter testing in January 2026, followed by the second turbine in February and March. On the gas supply side, Transgaz finalized the pipeline in November, capable of delivering up to 2.5 billion cubic meters per year, sufficient for full plant operation.
The new facility replaces the former coal-fired Mintia plant, which shut down after failing to meet EU environmental standards. The site was acquired in August 2022 by Mass Global Energy Rom, part of Mass Group Holding, for around €91 million. The old plant had entered insolvency in 2019 and was placed in conservation in 2021.
Once fully operational, the Mintia gas plant is expected to generate about 12,159 GWh annually and operate for an estimated 30 years, further reinforcing Romania’s role as a major electricity producer in Southeastern Europe.