Oltenia Energy Complex expects restructuring plan to be approved by European Commission in January 2022

The European Commission could approve the restructuring plan of the Oltenia Energy Complex in January 2022, after the company proves that there are investors interested in its development projects, the chairman of the Oltenia Energy Complex board, Daniel Burlan said on Wednesday.

"At the last analysis, the representatives of the European Commission appreciated the progress made by Romania and showed that only time separates us from a favorable decision. We still have to prove that the restructuring plan also means attracting investors to implement new projects," Burlan told the Energy Focus conference.

He pointed out that there are 17 companies that bought the specifications to participate together with Oltenia Energy Complex in the eight photovoltaic and two gas projects.

"All 17 investors are interested in photovoltaic projects and half of them want to join us as partners in gas projects. By the end of November, we are waiting for binding offers," he said.

Furthermore, the European Commission would approve the restructuring plan of Oltenia Energy Complex, most likely in January 2022, the company official added.

With an available capacity of 3,570 MW, the Oltenia Energy Complex is one of the largest energy producers in Romania and contributes to ensuring national energy security, mainly in extreme moments of prolonged drought or in winter periods with low temperatures, periods in which the contribution of coal-fired power plants to the production structure increased to almost 35%.