Part of the investment projects of state-run energy holding Complexul Energetic Oltenia (CE Oltenia, a coal and power complex that strives to diversify and phase off lignite burning, and of power grid operator Transelectrica (TEL.RO) will be funded with over EUR1.44 billion under the EU’s Modernisation Fund, according to Romanian authorities.
In the first stage, “Romania has the highest approved value: EUR0.97 billion for priority investments and RON0.470 for non-priority investments,” Romania’s energy minister Virgil Popescu said on May 26.
For CE Oltenia, the European Commission approved both the financing of the eight projects of photovoltaic parks, built on ash and slag dumps resulting from the combustion of lignite, and also, partially, two projects targeting gas power plants.
EC Oltenia’s restructuring plan, approved by the European Commission in the context of Russian threats, is based on gas-fired power plants. The photovoltaic park projects will receive over EUR469 million, the gas-fired power plant from Turceni (475 MW) – EUR 167.5 million and the one from Isalnița (850 MW) will get EUR253 million.