The project targets the construction of electricity and thermal energy production capacities, auxiliary and related equipment/capacities, internal electrical grid, electrical transformer stations in order to ensure the supply of thermal energy for the Craiova District Heating System (SACET) and the supply of thermal energy for heating and technological processes for the industrial Ford Otosan Romania.
To fund works, Electrica proposes contracting loans worth up to EUR250 million. The move is not aimed at boosting the indebtedness level already approved by shareholders in spring 2026, as it represents a cost optimization option for the new project in Dolj County, the report shows.
“The loan agreement(s) referred to under item 4.1 represent possible alternatives to the financing facilities approved by the EGMS of ELSA dated 29 April 2026, to the extent that more advantageous financing options are identified for this type of project, without increasing the financing requirement for the investments taken into account in substantiating the EUR 1 billion ceiling for the issuance of bonds and the related bridge-to-bond loans, a ceiling approved by the EGMS of ELSA dated 29 April 2026,” according to company representatives.
The agenda also includes the centralization of credit facilities of Electrica and its subsidiaries, namely, Electrica Furnizare, Distribuție Energie Electrica Romania and FISE Electrica Serv), by contracting loans worth up to RON8.7 billion. The measure aims to unify existing debts at a group level under the umbrella of the parent company.
“The centralization by ELSA of the existing credit facilities at the level of ELSA and Electrica’s subsidiaries Electrica Furnizare (“EFSA”), Distribuție Energie Electrica Romania SA (“DEER”) and FISE Electrica Serv SA („FISE”), with the exception of certain non-cash facilities whose total value is to be determined during the centralization process, through the contracting by ELSA of one or more loans from one or more commercial banks / banking syndicate / international financial institutions, up to a total amount of RON8.7 billion (each referred to as a ”Credit Agreement” and together as the ”Credit Agreements”) and the set up of the related guarantees,” the report reads.