The company had hoped to raise 273.3 million lei (EUR60.33 million) in 11 auctions, held on OPCOM.
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 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%.