CE Oltenia's Lignite Subsidiary Gets Greenlight from European Commission

As part of its restructuring and decarbonization plan, Romanian energy company CE Oltenia is set to establish a subsidiary dedicated to lignite-based power generation units. The European Commission's decision, from 2022, has greenlit state aid for CE Oltenia's restructuring, which includes a €2.66 billion grant. The new subsidiary will operate coal-fired plants that won't switch to gas or renewables, in line with the company's decision made in 2023. The company aims to create the new firm by the end of 2026, in accordance with the European Commission's decision.

Key Takeaways:

• CE Oltenia will establish a subsidiary for lignite-based power generation units, as per the European Commission's restructuring and decarbonization plan.
• The state aid granted to CE Oltenia amounts to €2.66 billion, part of the company's restructuring plan.
• The new subsidiary will operate coal-fired plants that are not planned to switch to gas or renewable energy sources.
• The company aims to create the new firm by the end of 2026, as per the European Commission's decision.
• CE Oltenia is also building solar power plants at former coal mines, with a combined capacity of about 550 MW.
• Romanian Energy Minister Bogdan Ivan is in talks with Brussels to postpone the deadline for closing lignite-fired power plants.

Statistics:

• €2.66 billion: The state aid granted to CE Oltenia as part of its restructuring plan.
• €550 MW: The combined capacity of solar power plants being built by CE Oltenia at former coal mines.
• 2026: The deadline for creating the new lignite subsidiary, as per the European Commission's decision.
• 5 years: The proposed postponement of the deadline for closing lignite-fired power plants, as suggested by Romanian Energy Minister Bogdan Ivan.

Sources:

• Profit.ro
• European Commission (2022)
• Romanian Energy Minister Bogdan Ivan (2023)