Hidroelectrica begins procedure for exchange listing


August 26, 2015





August 26, 2015




Six months out of insolvency, largest national power producer may be listed at the stock market, said. Károly Borbély, Hidroelectrica’s head of strategy and corporate affairs, said the preparations already begun. „It will be possible six months after we come out of insolvency, most likely in the fall of 2016 or early 2017,“ Romanian state-owned utility’s official underscored.

He argues that Hidroelectrica managed to decrease the cost of energy production from RON 176 (EUR 39.8) per MWh before the insolvency to EUR 24.2 per MWh. The company had good results last year, as profit of EUR 1.2 billion came from sales of EUR 3.2 billion euro. Lower net income is expected for this year, the report said. Hidroelectrica will reach the production level of 16 TWh, in comparison to 18 TWh of power from last year, so profit will be lower, Borbély said.

Bogdan Stănescu, the new special administrator of Hidroelectrica, believes listing is possible in 2017, about a year after exiting insolvency status. Hydropower plant operator may be listed on the stock market while still insolvent until May, the company’s trustee Remus Borza had said in June. Hidroelectrica would list 15% of shares, he added at the time.

Related Articles

roundtable solar locations mapping belgrade the nature conservancy

Mapping sustainable sites for 1 GW of solar power plants in Serbia

06 December 2022 - Sites for building solar power plants should be selected in line with sustainable development principles, according to experts working on the project Smart-from-the start planning for sustainable development - Mapping solar potentials

sarajevo toplotne pumpe ebrd grejanje

Sarajevo to introduce heat pumps technology in district heating system

06 December 2022 - The initiative for a heat pump project is a joint effort of the City of Sarajevo and the European Bank for Reconstruction and Development

MEP Kokkalis EU penalize coal power Western Balkans CBAM

MEP Kokkalis: EU shouldn’t penalize coal power in Western Balkans while producing coal-fired electricity itself

06 December 2022 - Many EU member states are prioritizing energy security over decarbonization and reviving retired coal power plants, MEP Petros Kokkalis said

Slovenia completes power interconnection with Croatia, Hungary Cirkovce Pince

Slovenia completes power interconnection with Croatia, Hungary

06 December 2022 - The Cirkovce-Pince overhead power line, the first interconnection between Slovenia and Hungary, is officially open