The projects to be funded are the eight projects submitted by state-run energy holding Complexul Energetic Oltenia (CE Oltenia) for the production of energy from renewable sources, totalling EUR 671 million, of which EUR470 million from the Modernization Fund. The projects will have an installed capacity of up to 735 MW.
The minister also mentioned two other combined cycle gas turbine (CCGT) power plant projects for CE Oltenia, namely Isalnița (EUR506 million, of which EUR 253 million from the Modernization Fund), and Turceni (EUR335 million, of which EUR168 million from the Modernization Fund). Their installed capacity will be 1200 MW.
Several projects submitted by power grid operator Transelectrica, amounting to a total of EUR476 million, will be partly financed, with EUR394 million, under the Modernization Fund.