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Hidroelectrica sells only two out of 34 SHPPs

Published

August 13, 2015

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Published:

August 13, 2015

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In late July, state-owned power producer Hidroelectrica SA agreed to sell two of its small hydropower plants (SHPPs) for RON 4 million (EUR 900,000), which was the starting price in the bid, Ziarul Financiar said.

The insolvent company called for offers for SHPPs the second time this year, with 34 units estimated at EUR 20.4 million for sale. Hidroelectrica’s representatives declined to specify the names of the buyers of the facilities of Călugariţa and Vlădeşti, located in the regions of Argeş and Vâlcea, respectively, in the central part of Romania.

Following an in-depth investigation, the European Commission has concluded in June that electricity supply contracts signed by the state-owned power company with certain electricity traders and industrial customers did not involve state aid within the meaning of the Euopean Union’s rules. On April 21, the European Commission concluded that in the contracts between Hidroelectrica and Electrocentrale Deva SA, on the one hand, and Hidroelectrica and Termoelectrica SA, on the other, the two companies were offered an unjustified economic advantage, thus breaching EU norms.

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