Romania has pledged to sell a 20% stake in the Oltenia Energy Complex by 31 December 2026, according to a company restructuring plan approved by the European Commission in late January, the Commission’s website said on Monday.
On December 20, 2020, Romania informed the European Commission about the company’s restructuring plan, worth 3.9 billion euros, of which 2.5 billion euros is state aid.
Measures envisaged by the plan include abandoning coal, separating the Craiova power plant, reducing the number of employees, efficient management and digitalisation.
The company is considering the construction of gas plants with a combined cycle power of 1,325 MW (should be completed in 2026) and photovoltaic plants of 735 MW (by 2024), in order to replace the existing capacities with lignite.
The plan envisages that two units of TPP Rovinj and one TPP Turceni will remain in reserve until 2030 and 2029, respectively, so that they can use coal to produce electricity if necessary. The three groups have a total capacity of about 1,000 MW.
At the end of the restructuring period, 20% of the state’s stake in the company should be sold.
The Oltenia energy complex is owned by the state, through the Ministry of Energy, with 78.5% of the shares and the Proprietate Fund with 21.5%.
Source: e-nergia.ro
