Renewables

Europe’s largest on-shore wind farm is on sale – CEZ starts divestment in Romania

CEZ

Photo: Fantanele-Cogealac wind farm (CEZ)

Published

September 11, 2019

Country

Comments

comments icon

0

Share

Published:

September 11, 2019

Country:

Comments:

comments icon

0

Share

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 Hydroelectrica are interested in buying companies owned by CEZ in Romania.

Investors can express their interest both for the entire bulk, but also for individual companies

“We have included seven Romanian companies in the market sounding (Energy Distribution Oltenia, Ovidiu Development, Tomis Team, MW Team Invest, CEZ Vanzare, TMK Hydroenergy Power and CEZ Romania). Investors can express their interest both for the entire bulk, but also for individual companies. The testing of market interest is carried out by CEZ’s exclusive investment advisor, Société Générale,” CEZ said in a press release.

The assets up for sale include one of the largest distribution companies in the country (customer portfolio of 1.4 million, 6 826 GWh of electricity delivered in 2018), Europe’s largest on-shore wind park Fantanele-Cogealac (600 MW installed capacity, 2018 production 1,105 GWh), a modernized hydroelectric system Resita, consisting of four dam reservoirs and four small hydroelectric power stations (22 MW in total, 83 GWh produced in 2018) and electricity and gas sales to end customers (3,425 GWh sold in 2018).

CEZ intends to keep its companies engaged in energy services (ESCO) activities and part of the trading business.

The divestment of the Romanian assets is in line with CEZ Group’s new strategy, approved this June, the company said.

The strategy envisages the gradual sale of assets in Bulgaria, Romania, Turkey, and partly also in Poland. In June CEZ sold its assets in Bulgaria. The company entered the Romanian energy market in 2005 with the purchase of one of the distribution companies.

Tags: , ,
Comments (0)

Be the first one to comment on this article.

Enter Your Comment
Please wait... Please fill in the required fields. There seems to be an error, please refresh the page and try again. Your comment has been sent.

Related Articles

Serbia drafts just transition action plan public debate

Serbia drafts just transition action plan

30 May 2025 - The Ministry of Mining and Energy has published a draft just transition action plan and launched a public debate

Regional Power Sector Exchange Western Balkans disitribution system operator dso grids ohrid giz

Third Regional Power Sector Exchange in Ohrid: Power grids at core of energy transition

30 May 2025 - The third Regional Power Sector Exchange of the Western Balkans gathered over 80 energy professionals from the Western Balkans

two solar power plants egesa enerji vojvodina

Turkey’s Egesa Enerji to build two solar power plants in Serbia’s Vojvodina province

30 May 2025 - Turkish company Egesa Enerji has launched a project to build two solar power plants in Vojvodina, with a total nominal capacity of 8.6 MW

Green for Growth Fund partnership Swedish International Development Cooperation Agency Sida

Green for Growth Fund launches partnership with Swedish International Development Cooperation Agency

30 May 2025 - GGF and the Swedish International Development Cooperation Agency are expanding green lending in the Western Balkans and the EU's Eastern Neighborhood