Oltenia Power Holding starts operations this May

Newsroom 23/03/2012 | 16:46

Romanian authorities approved earlier this week the merger of state-owned power generators Turceni, Rovinari and Craiova with lignite producer SNLO. The resulting energy company, Power Holding Oltenia, will become operational this May and will be headquartered in Gorj County.

The Romanian Ministry of Economy says the holding will consolidate the energy security and develop the South-west part of Romania.

The merged companies have ongoing investments around EUR 1 billion, out of which EUR 500 million is for environment protection and EUR 300 million for mining activities.

On the medium term, the holding plans to develop new electricity generation capacities fed by lignite.

Ovidiu Posirca

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