EC Oltenia invests in solar parks and cogeneration

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The Oltenia Energetic Complex wants to invest in new natural gas production capacities including cogeneration, photovoltaic power and thermal energy transport networks. It submitted to the Ministry of Energy projects related to investment plans for financing under the 10D mechanism of the EU Directive.

Thus, the EC Oltenia has plans for photovoltaic projects, whose individual value is below 12.5 million euro. These have been funded from the 10d Modernization Fund and not from 10c, as funding is 100% compared to a maximum of 70%, and the flexibility of payments is high, including pre-financing and successive payments compared to the post-paid payment option. Company heads say that this is why, in the List of projects published on the website of the Ministry of Energy, CE Oltenia does not have any project, according to investenergy.ro.

The Oltenia Energetic Complex plans to build two photovoltaic parks in the areas where thermal power plants operate. The company has also prepared projects in new natural gas production capacities of over 12.5 million euros, which were also funded by 10 c in the selection procedure.

With the approval by the Government on 25.06.2019 of the Memorandum “Presentation of Options for Using the Financing Instruments Specified by Directive (EU) 2018/410 and Romania’s Implementation Decision”, all 10c financing for projects with a value over 12.5 million euro (totalling 3.7 billion euro) have been transferred to the Modernization Fund. Thus, the modernization of the thermal energy transport network was initially included in the Modernization Fund as it can receive 100% financing.

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