News

Hidroelectrica targets EUR 300 million profit for 2015

Published

April 20, 2015

Comments

0

Share

Published:

April 20, 2015

Comments:

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

Kacır Turkey is No 1 producer of solar panels in Europe

Kacır: Turkey is No. 1 producer of solar panels in Europe

29 February 2024 - Turkey will continue incentives for renewables and roll out an emissions trading system, Minister Mehmet Fatih Kacır said

eps-electricity price dusan stanar

Will Serbia’s EPS reduce electricity prices in May?

29 February 2024 - Almost all companies in Serbia are paying EUR 120 per MWh for electricity, significantly above current market prices

SEEPEX businesses to enter electricity market

SEEPEX: Right time for businesses to enter electricity market

28 February 2024 - The need for the government to regulate power prices is slowly diminishing, experts from Serbian power exchange SEEPEX said, advising firms to turn to the market

Germany spearheads wind power development Europe 2023

Germany spearheads wind power development in Europe in 2023

28 February 2024 - Germany is spearheading wind power expansion in Europe, while Greece and Turkey have the strongest performances in the Balkans