The Romanian state treasury will lend EUR 8.9 million to the energy producer Complexul Energetic Hunedoara. The company will then be able to reimburse the state aid received in 2012, which the European Commission deemed illegal.

The state will lend the money via an Emergency Ordinance, reports local Mediafax. Energy Minister Andrei Gerea said that this was a first step in saving the company.

In April, the European Commission approved a EUR 37.7 million temporary rescue aid Romania gave the energy producer Complexul Energetic Hunedoara.

The Commission found the aid was in line with EU norms and was limited to the amount the company needed to keep its electric power plants working for the next six months and to pay its creditors. However, before receiving the new aid, the company has to pay back a previous aid stemming from 2012.

editor@romania-insider.com