Romania temporarily prohibits sale of majority stakes in energy companies
Romania will maintain the state of emergency for at least one more month and until it is abolished, no energy firm can be taken over. Hidroelectrica will thus need to wait longer for its acquisition of ČEZ’s subsidiaries in the country. The state of emergency has been extended for a month, to May 14. Just before […]
Hidroelectrica initiates takeover of ČEZ, Enel’s facilities in Romania
The management of Speeh Hidroelectrica SA requested the goahead from shareholders to hire consultants and lawyers in the procedure it started with the aim to acquire assets from ČEZ Group and Enel SpA, counting on them divesting in Romania. The extraordinary meeting is scheduled for December 12. The hydropower plant operator also asked for a […]
CEZ receives over 30 letters of interest for Romanian assets
Czech energy group CEZ has received more than 30 expressions of interest for its Romanian assets, which include Europe’s largest on-shore wind farm, the 600 MW Fantanele-Cogealac, and plans to invite prospective buyers to submit non-binding bids in December. The filing of binding offers is planned for the second quarter of 2020, while the transaction […]
Hidroelectrica files non-binding letter of intent to buy CEZ assets in Romania
Romania’s Hidroelectrica, the country’s largest power producer 80%-controlled by the state, has submitted a non-binding letter of intent to buy the assets of Czech energy company CEZ in Romania, Hidroelectrica CEO Bogdan Badea has confirmed, Romania Insider reported, citing Economica.net. The assets have attracted strong interest, CEZ spokesperson Ladislav Kriz said, according to Profit.ro. CEZ […]
Europe’s largest on-shore wind farm is on sale – CEZ starts divestment in Romania
Czech energy company CEZ has officially launched the divestment process in Romania, offering seven companies in the country including Europe’s largest on-shore wind park Fantanele-Cogealac, with 600 MW of installed capacity. The move comes just days after Italian energy company Enel initiated the sale of its assets in Romania. Romanian state-owned power utilities Electrica and […]
Italy’s Enel launches sale of Romanian assets
Italian energy company Enel has initiated the sale of its assets in Romania, Reuters has reported. Just a week ago Romanian state-owned power utility Hidroelectrica invited bids to select an adviser for the acquisition of Enel’s and Czech energy company CEZ’s assets in Romania. The sale of Enel’s operations in Romania is being led by […]
Hidroelectrica eyeing CEZ, Enel assets in Romania
Following power distribution and supply company Electrica, another Romanian state-owned energy company, power producer Hidroelectrica, has revealed it is eyeing Czech energy company CEZ’s assets in Romania, as well as assets owned by Italian energy company Enel in Romania, according to reports. Hidroelectrica, Romania’s largest power producer 80% owned by the state and 20% by […]
CEZ Romania swings to net loss in 2018 on decreased wind power generation
Czech energy company CEZ Group in Romania posted a net loss of RON 50.3 million (about EUR 10.6 million) in 2018, compared to a net profit of RON 421.2 million (around EUR 89 million) in 2017, as its largest energy facility, the Fantanele-Cogealac wind farm, produced a total of 1,105 GWh of electricity, 218 GWh […]