Romanian coal-based electricity producer Complexul Energetic Oltenia announced that it will build four solar parks and a gas-fired power plant with a total installed capacity of around 755 MW at an estimated overall value of about 595 million euro, togather with local energy provider Tinmar Energy.
The two companies have signed financing agreements for the development of solar parks with a total installed capacity of 280 MW and a 475 MW natural gas-fired power plant, CE Oltenia said in a press release.
The projects will be developed through five separate 50/50 joint-stock entities.
Part of financing has been secured from the EU’s Modernisation Fund, which will cover 70% of the financing needed for the solar projects and 50% of the funding required for the gas-fired plant. The solar parks are expected to be operational in 2024, and the gas-fired power plant in 2026.
The 280 MW solar parks will be built on the slag and ash warehouses in Rovinari and Turceni as well on the Pinoasa and Bohorelu landfills. The 475 MW gas-fired plant will be built within CE Oltenia’s SE Turceni lignite-fired power plant.
