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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Romanian Govt. approves another EUR 1 bln state aid for coal and power group CEO

Romania's Government signed the memorandum for the restructuring of state-owned coal and power group CE Oltenia (CEO) under a five-year program that involves some EUR 2 billion of aid from both state and the European Union's decarbonization program.

The memorandum involves EUR 1.33 bln of state aid, out of which more than EUR 250 mln was already extended as a rescue loan that the company could not return, Economica.net reported.

The company will use the state aid for financing the purchase of CO2 certificates over the period when the group is replacing its traditional coal-fired power unit with more modern gas-fired units and renewable energy capacities.

The European Commission has invited the CEO to launch the notification procedure, the final stage of the process of approving the restructuring and decarbonization plan, a document sent to Brussels on August 31, 2020, according to a press release issued by Agerpres on Tuesday. CEO expects EUR 771 mln grants from European Union funds under the Modernization Fund - mechanism 10d.

CEO is the second-biggest producer of electricity in Romania, with a market share of 22%.

[email protected]

(Photo source: Facebook/Complexul Energetic Oltenia)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Romanian Govt. approves another EUR 1 bln state aid for coal and power group CEO

Romania's Government signed the memorandum for the restructuring of state-owned coal and power group CE Oltenia (CEO) under a five-year program that involves some EUR 2 billion of aid from both state and the European Union's decarbonization program.

The memorandum involves EUR 1.33 bln of state aid, out of which more than EUR 250 mln was already extended as a rescue loan that the company could not return, Economica.net reported.

The company will use the state aid for financing the purchase of CO2 certificates over the period when the group is replacing its traditional coal-fired power unit with more modern gas-fired units and renewable energy capacities.

The European Commission has invited the CEO to launch the notification procedure, the final stage of the process of approving the restructuring and decarbonization plan, a document sent to Brussels on August 31, 2020, according to a press release issued by Agerpres on Tuesday. CEO expects EUR 771 mln grants from European Union funds under the Modernization Fund - mechanism 10d.

CEO is the second-biggest producer of electricity in Romania, with a market share of 22%.

[email protected]

(Photo source: Facebook/Complexul Energetic Oltenia)

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