Bucharest, August 13, 2026 – CEC Bank and Exim Banca Romaneasca have signed a financing agreement for the development of the CET Titan Combined Heat and Power (CHP) Plant, an investment undertaken by Titan Power S.A., a project company majority-owned by Societatea de Administrare a Participațiilor în Energie – SAPE S.A. and minority-owned by Electrocentrale Grup S.A. (ELG S.A.).
The law firm NNDKP provided legal assistance in structuring and implementing the transaction.
Amounting to approximately RON 289 Million, the financing represents an essential step toward the implementation of one of the most significant energy projects currently under development in Romania and confirms the banking sector’s role in supporting strategic investments with a positive impact on both the economy and local communities.
The new CET Titan facility will be the first greenfield district heating power plant in Bucharest since 1979. The project will contribute to strengthening the capital city’s energy security, increasing energy efficiency, and reducing environmental impact through modern cogeneration technologies.
“This financing reflects our commitment to supporting projects with a direct and positive impact on people’s lives. We are pleased to contribute, together with our partners, to this important investment, which will contribute to the modernization of Bucharest’s energy infrastructure and enhance the security of electricity and heat supply, while minimizing environmental impact and delivering long-term benefits for residents. Supporting such investments confirms our capacity to serve as a leading financial partner for companies investing in development and contributing to the sustainable growth of the economy and local communities,” said Traian Halalai, Executive President of Exim Banca Romaneasca.
“Through this financing, CEC Bank supports a project of strategic importance for Romania’s energy infrastructure and for the development of the capital city. We aim to be an active partner in financing investments that contribute to the modernization of the economy, increased competitiveness, and the development of essential infrastructure for communities and businesses. CET Titan is an example of an investment that generates long-term value and addresses major objectives related to energy security and the efficient use of resources,” said Adrian Musat, Director of the Large Companies Division at CEC Bank.
“We are honored to have advised the lending banks in a landmark transaction for the energy infrastructure of Bucharest, a project with a direct impact on energy efficiency, sustainability, and security. We highly value our collaboration with CEC Bank and Exim Banca Romaneasca and their commitment to financing investments that are essential for the modernization of infrastructure in this sector. I am proud of our team of lawyers, who managed the complexity of this transaction with professionalism and dedication. We thank everyone involved for their trust and contribution to the successful completion of such an important project,” said Alina Radu, Partner and one of the coordinators of NNDKP’s Banking and Finance practice.
The investment is being carried out by Titan Power S.A., a project company majority-owned by SAPE S.A. and minority-owned by Electrocentrale Grup S.A., companies operating under the coordination of the Ministry of Energy. Electrocentrale Grup S.A. is currently undergoing a merger by absorption with SAPE S.A.
The plant is expected to generate approximately 400 GWh of electricityper year, which will be supplied to Romania’s National Energy System, as well as approximately 200 GWh of thermal energy per year for delivery to Bucharest’s District Heating System. This will contribute to improving heat supply in areas of the capital currently facing heating deficits.
The new facility will use state-of-the-art natural gas-fired cogeneration technologies designed to achieve an overall energy efficiency of approximately 90%, reducing both specific fuel consumption and greenhouse gas emissions. In addition, the project has been designed to allow the future use of low-carbon fuels, including mixtures of natural gas and hydrogen.
Through this financing, CEC Bank and Exim Banca Romaneasca are contributing to the development of a strategic investment that will support the modernization of Bucharest’s energy infrastructure, improve the efficiency of energy production systems, and strengthen Romania’s energy security.
About Exim Banca Romaneasca
Exim Banca Romaneasca is one of Romania’s leading banks, operating with 100% Romanian shareholding. Its financial solutions are available on competitive terms for all types of businesses, ranging from microenterprises and SMEs to large corporations. Through its network of 27 Business Centers across the country, the bank provides a comprehensive portfolio of competitive products and services covering the entire financing cycle, as well as a wide range of transaction banking solutions. These include financing, guarantees, treasury products, cash management services, factoring, and trade finance solutions. For more information, visit www.eximbank.ro.
About CEC Bank
CEC Bank is the financial institution with the longest tradition in Romania. Founded in 1864, CEC Bank currently operates the country’s most extensive banking network, with more than 1,000 branches and local units. CEC Bank is a leading universal bank in the Romanian market, offering a full range of products and services to individuals, SMEs, and large corporations through multiple distribution channels, including branches, ATM and POS networks, mobile banking (CEC app), and the virtual store CEC_IN, where customers can access banking products and services entirely online. Further information about CEC Bank’s products and services is available at any CEC Bank branch, by calling the Customer Support Service toll-free at 0.800.800.848, or by visiting www.cec.ro.
About NNDKP
Nestor Nestor Diculescu Kingston Petersen (NNDKP) is a pioneer of business law in Romania. With offices in Bucharest, Timișoara, and Cluj-Napoca, NNDKP provides integrated legal and tax advisory services covering all business needs.Over more than 35 years of activity, NNDKP lawyers have advised and represented clients in landmark transactions and projects that have shaped the Romanian business community. In 2025, NNDKP won, for the seventh time, the prestigious “Romania Law Firm of the Year” award presented by Chambers Europe and was also named “Romania Firm of the Year” by Benchmark Litigation. Further information is available at www.nndkp.ro.
