Hydropower plant operator Hidroelectrica, which is preparing for an IPO, told shareholders it has submitted non-binding offers for renewable energy projects under development with a combined capacity of 2 GW. The Romanian state-owned utility is also examining options for launching hydropower projects on the Buzău river.
Hidroelectrica is working on the procedure to conduct an initial public offering, probably at the Bucharest Stock Exchange, which is set to become the biggest in Romania’s history. Last June it won approval from the government for its EUR 5.3 billion investment strategy until 2037, and it seems to be speeding up the allocation process ahead of its stock market debut to give potential new investors a clearer picture of the path ahead.
The management revealed in November that it was looking at wind and solar projects with a combined capacity of 2 GW. Now it told shareholders in its annual report that it has submitted non-binding offers for three wind farms and one photovoltaic plant “in various stages of development,” Economica.net reported.
Hidroelectrica told shareholders that it is considering the acquisition of projects for three wind farms and a solar power plant
The company estimated it would need to invest a total of EUR 2.3 billion to build the four facilities, without revealing how much it offered for the four projects. The combined annual output is seen at 5 TWh, compared to the 17 TWh that Hidroelectrica normally produces at its 209 hydropower plants (6.4 GW) and wind park Crucea (108 MW).
Hidroelectrica is also looking for a contractor for a prefeasibility study for the construction of hydropower plants on the Buzău river in Romania’s east. The tender documentation shows the section is 70 kilometers long, from the utility’s Negoiașu hydropower plant to Buzău city.
The company is looking to expand its hydropower fleet on the Buzău river in Romania’s east
The utility currently has four hydroelectric facilities on the Buzău, with a combined capacity of 76.5 MW. They are more than 30 years old. Nehoiașu 2 is under construction and the planned capacity is 55 MW.
The river’s segment envisaged for the study includes the Natura 2000 site Lunca Buzăului.
Hidroelectrica gave up last year on the intended purchase of a 153 MW solar power plant in Argeș county, according to the media.