Romanian electricity producer Energy Complex (EC) Oltenia is set to rehabilitate a 9.9 MW hydropower plant owned by its subsidiary, Electrocentrale Turceni, with funding from the Modernization Fund. The total project cost, including VAT, is 9.4 million euros, with 65% of the funding, or 5.1 million euros, provided as a grant from the Modernization Fund.
This move is part of EC Oltenia’s broader strategy to diversify its energy portfolio by expanding into renewable sources while also modernizing its coal-fired units to meet decarbonization targets. The company previously completed the refurbishment of the 330 MW unit 5 at the Rovinari coal-fired thermal power plant, which was successfully reconnected to the grid in October following a 100 million euro upgrade.
