Romania, EBRD considers financing EC Oltenia’s solar projects

, SEE Energy News

The European Bank for Reconstruction and Development (EBRD) launched a tender for the provision of technical consultancy services for solar power plant projects carried out by the coal- based electricity producer Energy Complex (Oltenia), which the Bank is planning to finance.

EC Oltenia already launched a public call seeking partners to establish special purpose vehicles for the development of eight solar power plants and the largest Romanian oil and gas company OMV Petrom, itself trying to decarbonize its portfolio, is among the interested companies.

The statement from the Bank said that it plans to provide eight loans that will be used to finance the construction of eight solar power plants in the Oltenia region in southern Romania. The total cost of the eight projects, with a total installed capacity of 735 MW, is over 620 million euros.

EC Oltenia is expecting the European Commission to approve its ambitious decarbonization restructuring plan soon, most likely in January. Besides the construction of RES projects, such as these eight solar power plants, EC Oltenia’s restructuring plan envisages gradual decommissioning of its coal-based capacities and their replacement with gas-fired capacities at Isalnita and Turceni TPPs.