The Romanian Government approved granting of state aid to electricity producer Energy Complex (EC) Oltenia for the purpose of financing the expenses of purchasing greenhouse gas emissions certificates for 2023 in the amount of some 91 million euros.
The state aid will be fully granted from the state budget and will be used for the purchase of greenhouse gas emission certificates necessary to fulfill the obligation to return the greenhouse gas emission certificates related to the year 2022, due on 30 April 2023, and the purchase of greenhouse gas emission certificates related to the year 2023, due on 30 April 2024.
So far, EC Oltenia has received state aid in the form of a grant for the purchase of greenhouse gas emission certificates in the amount of 776.4 million euros.
Last year, the European Commission approved the restructuring plan of EC Oltenia worth some 2.66 billion euros. The total value of the measures for the reorganization and transformation of EC Oltenia is close to 4 billion euros, if we the company’s own contribution of some 1.24 billion euros is added to the sum.
More than 250 million euros have already been allocated, as support granted by the Romanian state in 2020, which is already included in the restructuring plan.
About 711 million euros will be granted through the Modernization Fund, for the commissioning of 8 solar power plants with combined installed capacity of 725 MW, refurbishment and modernization of a 10 MW micro hydropower plant and the commissioning of a natural gas-fired electricity generation capacities – a unit of 475 MW at TPP Turceni, and 850 MW unit at TPP Isalnita.
