The news portal Serbia-Energy announced that state-owned coal-fired electricity producer Energy Complex (EC) Oltenia company plans to develop new production units with combined installed capacity of about 2,000 MW. It will develop eight solar power plants in Turceni, Rovinari, and Isalnita, with a total installed capacity of about 700 MW.
The restructuring plan drafted by EC Oltenia envisages 1.33 billion euros in grants from the state budget and 771 million euros in grants from EU funds under the Modernization Fund – mechanism 10d of the European EU-ETS directive, said Romanian Minister of Economy and Energy Virgil Popescu.
Out of the 1.33 billion euros expected from the state, 252 million euros was already extended as a rescue aid for the company in order to pay for the CO2 certificates related to last year’s electricity production. The company needs over a billion euros more from the state budget to finance the purchase of CO2 certificates during the restructuring period.
>>> The complete article is available at: https://serbia-energy.eu/romania-grants-for-ec-oltenia-restructuring-needed/