The draft still needs to pass the Chamber of Deputies and complete the legislative process.
Among other things, the draft, approved by the Senate as the first chamber to be notified, stipulates that CEO can continue to draw on loans contracted with a state guarantee to cover its working-capital needs, as part of the restructuring aid, until December 31, 2029, according to Profit.ro.
The former interim government led by prime minister Ilie Bolojan issued a negative opinion on this provision, warning of the consequences of acting without the European Commission’s approval.
“(…) We do not support this provision, since the investigation procedure concerning the amended Restructuring Plan of Complexul Energetic Oltenia SA, notified at the end of 2025, is currently ongoing, and there is no European Commission decision approving an extension of the deadline for Complexul Energetic Oltenia SA to contract the loan until 2029. Therefore, there is a risk of non-compliance with the European framework on state aid,” the negative opinion on the draft law stated.
“We also mention that (…) the Ministry of Finance was authorised to guarantee 100% of one or more loans contracted by the company, up to a total amount of EUR 195.8 million, for a period of nine years, in order to ensure working capital, namely to cover the liquidity needs required to support the company’s activity. The deadline for drawing on this loan was December 31, 2025. We specify that, to date, the letter of guarantee has not been issued by the Ministry of Finance.”
The opinion was issued on October 16 by the former interim Bolojan government, shortly before the new government led by prime minister Luca Niculescu took office.
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