CE Oltenia and Alro to invest €108.5 million in 850 MW gas-fired power plant

• 2 years ago (2022-10-19)
• David Flin

Europe 1089 Gas 394

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Romanian coal-based electricity producer Complexul Energetic Oltenia (CE Oltenia) and aluminium producer Alro have announced they will invest a total of €108.5 million in a joint project to construct a 850 MW gas-fired power plant.

CE Oltenia will contribute €65 million, giving it a 59.9 per cent stake; Alro will contribute €43.5 million for a 40.1 per cent stake. The total value of the project is estimated at €506 million, with additional financing coming from the EU’s Modernisation Fund.

The project will be located in Romania’s southern county of Dolj, and will replace two coal-fired units, each of 315 MW. The gas-fired plant is expected to be operational in 2026.