Termoelectrica, E.ON Kraftwerke and Enel consortium signed on Wednesday an memorandum of understanding to start building up a thermal power plant in Braila, South East Romania, a common press release shows. The agreement presumes setting up a joint company between the three interested parties to develop the project at Braila.

The project will make use of all existent assets in Braila that are currently operational. Within the joint company, the Romanian state company will share its current assets in Braila while the E.ON - Enel consortium will add cash. The consortium will hold the majority of shares within the joint company while the Termoelectrica company's shares depend on the value of the available assets.

Moreover, the memorandum shows that a feasibility study will be undertaken in order to decide whether the project is worth being implemented or not.