The company had hoped to raise 90.67 million lei (EUR20 million) in 16 auctions.
CE Oltenia holding was found in 2012 following the merger of mining company Societatea Nationala a Lignitului Oltenia and thermal power producers Turceni, Craiova and Rovinari.
The power holding operates 13 units with a total capacity of 3,900 megawatts.
The Economy Ministry is majority holder, with a 77.17% stake, while investment fund Fondul Proprietatea (FP.RO) owns 21.53%.