CE Oltenia to build eight photovoltaic parks and a natural gas-fired plant

CE Oltenia will build four photovoltaic parks with a total installed capacity of 450 MW in partnership with OMV Petrom, with an investment value of over EUR 400 million.

Also, will build four photovoltaic parks with a total installed capacity of 285 MW and a 475 MW natural gas-fired combined cycle power plant in Turceni, in partnership with Tinmar Energy, with an investment value of EUR 595 million.

Photovoltaic parks receive 70% funding from the Modernisation Fund, and the funding percentage for natural gas combined cycle power plants is 50%.

Each project will be developed through a separate legal entity (SPV), in a 50-50 shareholding structure between CE Oltenia and OMV Petrom, respectively Tinmar Energy, as a requirement of CE Oltenia’s Restructuring Plan.

The PwC Romania and D&B David si Baias team provided advisory services in the process of partner selection and setting up the SPVs with the selected partners.

SEE ALSO: Neogen Capital invests EUR 150.000 in developing Tulipr.ro

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