Europe’s largest on-shore wind farm is on sale – CEZ starts divestment in Romania
Czech energy company CEZ has officially launched the divestment process in Romania, offering seven companies in the country including Europe’s largest on-shore wind park Fantanele-Cogealac, with 600 MW of installed capacity. The move comes just days after Italian energy company Enel initiated the sale of its assets in Romania. Romanian state-owned power utilities Electrica and […]
Italy’s Enel launches sale of Romanian assets
Italian energy company Enel has initiated the sale of its assets in Romania, Reuters has reported. Just a week ago Romanian state-owned power utility Hidroelectrica invited bids to select an adviser for the acquisition of Enel’s and Czech energy company CEZ’s assets in Romania. The sale of Enel’s operations in Romania is being led by […]
Vestas sells majority stake in three wind power plants in Romania
Vestas has entered into an agreement to sell 80% of its shares in the subsidiaries owning the Romanian wind power plants Pantelimon, Pegasus, and Apollo to a non-disclosed buyer for a selling price of EUR 136 m, the Danish manufacturer of wind turbines has said in a press release. Three wind power plants have 160 […]
E.ON Romania names Manfred Paach new CEO, as Frank Hajdinjak steps down
As of October 1, Manfred Paach will serve as new CEO of German power utility E.ON’s operations in Romania. He will take over from Frank Hajdinjak, who has held the reins of E.ON Romania for 11 years, Romanian media reported. Manfred Paach previously served as the CFO of German energy service provider E.DIS, and he […]
Hidroelectrica to launch IPO in September 2020
Romania’s state-owned power utility, Hidroelectrica, will launch an initial public offering (IPO) on the Bucharest Stock Exchange in September 2020, local media reported. According to Hidroelectrica CEO Bogdan Badea, the most profitable state-owned company in Romania plans to list 10% of its shares in IPO. There is an option for dual listing, possibly in London […]
Mercedes-Benz to supply 130 Citaro hybrid buses to Bucharest
Mercedes-Benz has won the sole bid to supply the Bucharest municipality with 130 Citaro hybrid buses. The German automotive company will supply Bucharest with 130 Citaro hybrid buses for RON 195 million (around EUR 40 million), Romania Insider reported, citing Economica.net. The order, financed with the EU funds, will supplement the 400 diesel buses ordered last […]
Hidroelectrica eyeing CEZ, Enel assets in Romania
Following power distribution and supply company Electrica, another Romanian state-owned energy company, power producer Hidroelectrica, has revealed it is eyeing Czech energy company CEZ’s assets in Romania, as well as assets owned by Italian energy company Enel in Romania, according to reports. Hidroelectrica, Romania’s largest power producer 80% owned by the state and 20% by […]
CEZ Romania swings to net loss in 2018 on decreased wind power generation
Czech energy company CEZ Group in Romania posted a net loss of RON 50.3 million (about EUR 10.6 million) in 2018, compared to a net profit of RON 421.2 million (around EUR 89 million) in 2017, as its largest energy facility, the Fantanele-Cogealac wind farm, produced a total of 1,105 GWh of electricity, 218 GWh […]