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Hidroelectrica prepares for hydropower upgrade, acquisitions

February 24, 2015 | Comments: 0Author:

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Hidroelectrica prepares for hydropower upgrade, acquisitions

Hidroelectrica plans to invest EUR 300 million this year in upgrading three hydropower plants and considers buying small hydro plants in the neighbouring countries as well as several hundred megawatts in wind farms developed on the local market, Mediafax reports.

According to the attorney Remus Borza, the representative of Euro Insol, Hidroelectrica’s judicial administrator, Hidroelectrica has RON 800 million in cash (EUR 179 million), and if viable projects are identified, it could borrow RON 1 billion (EUR 224 million) at an interest rate of 1 to 1.5 percent.

The hydroelectricity producer is managed by the state through the Ministry of Energy.