The largest Romanian power producer is selling 20 small hydropower plants (SHPPs) with a total installed capacity of 16.5 MW. Hidroelectrica SA put a combined starting price for all facilities at RON 49 million (EUR 11 million), a discount of EUR 5.2 million compared to the price at the initial auctions in September 2014.
The starting prices vary from EUR 111,000 for a 60 kW unit in Sibiu county to EUR 1.95 million for Boia 1 SHPP in Arad in Vâlcea county, with the capacity of 2 MW. The assets, located in 12 counties, are divided into 14 lots, the most valuable one being the stock of four small plants in Brașov with an overall 4.93 MW, estimated at a minimum of EUR 1.8 million. All prices are without value added tax, Hidroelectrica said, as it does not apply to the transfer of assets. Investors have until May 16 to express interest and the value of the tender guarantee is 10% of the starting price. The public auctions will take place from May 23 to May 26.
All prices are without value added tax, the company said, as it does not apply to the transfer of assets.
The state-owned utility divested 36 SHPPs with a total installed capacity of 29.2 MW for EUR 21 million since July 2013. The latest tender is part of company’s efforts to exit insolvency. Hidroelectrica could also sell a minority stake by November through an initial public offering.