We report on a search for double beta decay of ^130Te to the first 0^+ excited state of ^130Xe using a 9.8 kg·yr exposure of ^130Te collected with the CUORE-0 experiment. In this work we exploit different topologies of coincident events to search for both the neutrinoless and two-neutrino double beta decay modes. We find no evidence for either mode and place lower bounds on the half-lives: T^0ν_0^+_1>7.9· 10^23yr and T^2ν_0^+_1>2.4· 10^23yr ( 90% CL ). Combining our results with those obtained by the CUORICINO experiment, we achieve the most stringent constraints available for these processes: T^0ν_0^+_1>1.4· 10^24yr and T^2ν_0^+_1>2.5· 10^23yr ( 90% CL ).
