Electricity

Hidroelectrica eyeing CEZ, Enel assets in Romania

Hidroelectrica CEZ

Photo: Facebook/Hidroelectrica

Published

August 14, 2019

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Published:

August 14, 2019

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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 investment fund Fondul Proprietatea, is looking at the distribution, supply, and renewable energy businesses owned by CEZ and Enel in Romania, according to Hidroelectrica CEO Bogdan Badea, reports the Romanian media, including News.ro.

According to earlier reports, CEZ plans to exit Romania and its assets there have also attracted the interest of Romania’s state-owned power distribution and supply company Electrica.

CEZ Group in Romania posted a net loss of RON 50.3 million (about EUR 10.6 million) in 2018 as its largest energy facility, the Fantanele-Cogealac wind farm, produced a total of 1,105 GWh of electricity, 218 GWh less than in 2017, due to adverse weather conditions.

In Romania, CEZ Group has been present since 2005, when it took over electricity distribution company Electrica Oltenia SA.

Distributie Energie Oltenia, CEZ Romania, CEZ Vanzare, CEZ Trade, Tomis Team, MW Invest, Ovidiu Development, TMK Hydroenergy Power, CEZ ESCO Romania, and High Tech Clima are the 10 companies that form CEZ Group in Romania.

Hidroelectrica remains the largest Romanian energy producer with a market share of 29.02%, followed by Complexul Energetic Oltenia and Nuclearelectrica with market shares of 21.98% and 17.91% respectively, and Tomis Team and Ovidiu Development with 1.08% and 0.81%, respectively.

According to earlier, unconfirmed reports, Enel is looking to sell parts or all of its assets in Romania.

Enel Romania CEO Georgios Stassis has been proposed to take over the reins of Greece’s ailing majority state-owned Public Power Corporation (PPC).

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