The Emergency Ordinance on the establishment of the legal framework for granting state aid for the restructuring of the Oltenia Energy Complex was approved.

“CEO will become a producer of electricity based on coal, gas and renewable energy. After all the efforts that were made, we managed to save the CEO. I want to thank my colleagues in the ministry and the CEO for the efforts they have made lately to be able to solve the problems and move on to investing. I would like to remind you that for the Oltenia Energy Complex, investment projects have been submitted so far with financing from the Modernization Fund of over 1.4 billion euros. Also, the CEO will increase production capacity from May by 300 MW,” said Virgil Popescu, Minister of Energy.

The Ministry of Energy will offer to the Oltenia Energy Complex grants representing the equivalent value in lei of the amount of 848.6 million euros, as part of the restructuring aid in the form of an authorized grant totaling 1,090 million euros, for the implementation of the Restructuring Plan, until 2025 , in order to finance the expenses with the greenhouse gas emission certificates in the period 2021-2025, of which 1,180,446 thousand lei, the equivalent of 241.4 million euros, grant offered in 2021 for the acquisition of gas emission certificates for 2020.

State aid in the form of grants to finance the purchase of greenhouse gas emission allowances will be offered annually, from the state budget, through the approved budget to the Ministry of Energy.

At the same time, the participation of the state through the Ministry of Energy in increasing the share capital of the Complexul Energetic Oltenia Company was approved by a cash contribution, with the amount representing the RON equivalent of 180 million euros.