The company has so far received grants of €776 million. The state aid of RON 453 million lei (€90.5 million) is intended "to finance the purchase of gas certificates with greenhouse effect emissions in 2023" according to the draft normative act.
State aid in the form of grants to finance the purchase of greenhouse gas certificates is granted annually, according to the restructuring plan.
Until this date, the total amount of grants awarded from the budget for CE Oltenia amounts to €776 million EUR, according to the project of the Ministry of Energy.
The total restructuring costs of CE Oltenia amount to €3.94 billion, of which approximately €2.7 billion are state funds, which also include the amounts received from the Modernization Fund for financing new projects.
The restructuring plan involves the gradual closure of the lignite groups and the construction of 8 photovoltaic parks with a capacity of 725 MW and two combined cycle gas plants of 1,325 MW, in Ișalnița and Turceni.
The Oltenia Energy Complex is the largest coal-based energy producer in Romania, which owns 9 energy groups, with an installed capacity of 2,595 MW. The main shareholders are the Ministry of Energy (77%) and Fondul Proprietatea (21.5%).
The company must buy one CO2 certificate for each MWh produced from coal. The current quotation is around €90.
