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Hidroelectrica sells hydro facility to an archdiocese

Published

September 8, 2015

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Published:

September 8, 2015

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The biggest state-owned power producer sold its small hydropower plant (SHPP) Călugăriţa, located in Argeș county in central Romania, to the Argeș archdiocese, according to Mediafax, Business Review’s portal reported. Hidroelectrica SA, insolvent for the second time, took RON 1.7 million (EUR 380,000) for the one of only two small hydro facilities it sold from the 34 that were put on sale by auction in July. Both SHPPs were acquired for the starting price in the bid, EUR 900,000 in total, the country’s media reported in August.

Calugarita micro-hydropower plant on the Valea lui Stan river in Argeș county has been acquired by the Archdiocese of Argeș and Muscel of the Romanian Orthodox Church for EUR 380,000, while the second plant, Vlădeşti, located in Olăneşti river basin in Vâlcea county, was auctioned to Roski Air Service, for EUR 500,000, lawyer Remus Borza, the company’s insolvency administrator, told Mediafax.

The plant bought by the archdiocese has an installed capacity of 630 kW and produces enough energy to supply 180 households. The second plant also has an installed capacity of less than 1 MW. Hidroelectrica owns 128 SHPPs with an installed capacity of up to 4 MW each. The company is insolvent for the second time since February 2014, the first reorganizing having taken place between June 2012 and June 2013.

Hidroelectrica recorded a record profit of EUR 163.78 million for the first half of this year, 42 percent higher than in the same period last year, the article said. Turnover increased by EUR 67.2 million, reaching EUR 418.69 million. In November, the company will be auctioning another 40 SHPPs in Valcea, Suceava, Bacău, Neamţ, Hunedoara, Maramureş, Braşov, Arad, Sibiu, Argeş, Buzău and Timiş. Hidroelectrica owns 128 facilities in the category, with an installed capacity of up to 4 MW.

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