Tinmar Energy and Complexul Energetic Oltenia (CE Oltenia) have announced the completion of the public tender procedures for four jointly developed photovoltaic parks, paving the way for the signing of Engineering, Procurement and Construction (EPC) contracts and the start of project implementation.
With a combined installed capacity of approximately 395 MWp and a total investment value of €243 million, the four solar parks, located in Gorj County, represent one of the largest renewable energy investments jointly undertaken by the two companies.
Following a competitive procurement process that attracted bids from 13 participants, either individually or as consortia, the contract for all four photovoltaic projects has been awarded to the consortium led by China Civil Engineering Construction Corporation Romania S.R.L., together with Aeronaval de Construcciones e Instalaciones. The signing of the EPC contracts marks the transition from the preparation phase to full-scale construction.
For CE Oltenia, the completion of the procurement process represents another major milestone in implementing the company’s Restructuring and Decarbonisation Plan. The new renewable generation assets will diversify the company’s production portfolio, capitalize on existing infrastructure, and reinforce CE Oltenia’s strategic role in ensuring Romania’s energy security.
The projects form part of CE Oltenia’s broader strategic investment programme, financed through the Modernisation Fund, aimed at transforming the company into a diversified electricity producer. At the same time, the investments support Tinmar Energy’s strategy to expand its renewable energy generation capacity, with both partners contributing to Romania’s energy transition and long-term energy security.
The scale of the projects, the financing requirements and the complexity of the public procurement procedures required close cooperation between the Tinmar Energy and CE Oltenia teams throughout the process. From establishing project companies and securing European funding to organizing EPC tenders, every stage was carried out with transparency and under the supervision of the relevant authorities.
The projects benefit from a robust financing structure combining grants from the Modernisation Fund, shareholder contributions and bank financing. Funding allocations from the Modernisation Fund have already begun and are currently being deployed to support project implementation.
The four photovoltaic parks account for 395 MWp of installed capacity and €243 million in investment. The partnership portfolio also includes a 475 MW combined-cycle gas-fired power plant, valued at approximately €475 million. Together, the five projects represent investments exceeding €700 million, making the Tinmar Energy–CE Oltenia partnership one of the most significant energy investment initiatives in Romania in recent years.
The investments are aligned with the European Union’s objectives to increase the share of renewable energy and accelerate the transition toward a decarbonised energy system.
Beyond the investment figures, both companies emphasize that the partnership is built on strong cooperation between a privately owned company and a state-owned enterprise. Key decisions—including project financing, governance and EPC contractor selection—have been made jointly through continuous dialogue and aligned strategic objectives.
With project companies fully operational, financing secured and experienced implementation teams in place, the five energy projects are now entering the execution phase, demonstrating the maturity of a partnership built on professionalism, transparency and long-term collaboration.
Constantin-Cosmin Trufelea, Chairman of the Executive Board of Complexul Energetic Oltenia, said: “The completion of the procurement procedures represents another important step in implementing the strategic investments included in CE Oltenia’s Restructuring and Decarbonisation Plan. Moving these projects into the construction phase confirms our commitment to developing new renewable generation capacities alongside our existing assets. This partnership demonstrates that collaboration, professionalism and a shared vision can deliver major investments that strengthen Romania’s energy security and support the sustainable development of the energy sector.”
Augustin Oancea, Founder of the Tinmar Group, added: “The projects developed together with our public-sector partner, Complexul Energetic Oltenia, are a strategic priority for the Tinmar Group. The selection of the EPC contractor for the photovoltaic parks marks a crucial milestone in their implementation. I am fully confident that, together with our partner, we will successfully complete these projects, further strengthening Tinmar’s position as a trusted player in Romania’s energy transition.”