News

Hidroelectrica targets EUR 300 million profit for 2015

Published

April 20, 2015

Comments

comments icon

0

Share

Published:

April 20, 2015

Comments:

comments icon

0

Share

Gross profit of RON 405 million (EUR 91.8 million) was recorded by Hidroelectrica, Romania’s largest electricity producer, in Q1, more than twice the sum from the company’s best year – 2014, when it reported RON 178 million in the first three months, Business-review.eu portal said. The results were due mainly to the high generation, where it produced and delivered 4,711 GWh, up 37 percent compared to the 3,443 GWh in the same period last year.

„We have created the premises of an exceptional year for Hidroelectrica in 2015, and if the hydrological regime will be similar to the one registered last year, we estimate a production of at least 18 TWh and a profit of over EUR 300 million,“ said attorney Remus Borza, the representative of Hidroelectrica’s judicial administrator Euro Insol.

The state-owned company, currently in bankruptcy, sold three micro hydropower plants at the end of March, from a total of 33 units auctioned for RON 5 million (EUR 1.1 million), the portal reported. One of the hydropower plants was bought by Three Pharm in Târgu Mureș for RON 1.4 million, while the other two units were purchased by the Italian company Geo Service Italia for RON 3.6 million, according to Mediafax.

Related Articles

Fortis Energy Albania 62 MW solar power

Fortis Energy gets green light in Albania for 62 MW solar power project

27 June 2025 - Fortis Energy received approval from the Albanian government for the construction of a 62 MW solar power plant in the country's southeast

bisol solar modules factory slovenia

Solar module maker Bisol to triple production capacity with new Slovenian plant

27 June 2025 - Slovenian manufacturer of solar modules Bisol Group plans to build a new factory in an investment estimated at EUR 32.3 million

Hidroelectrica construction pilot floating photovoltaic plant

Hidroelectrica to begin construction of its pilot floating photovoltaic plant

27 June 2025 - Romanian state-owned hydropower plant operator Hidroelectrica picked the contractor for a 10 MW floating solar power plant, its first

Satellite dishes get new life hosting solar panels for data center

Satellite dishes get new life, hosting solar panels for data center

26 June 2025 - A Swiss firm converted its unused satellite dishes into solar dishes to power its data center, using SolarEdge-s inverters and optimizers.