Hidroelectrica launches tender for retrofitting of HPP Vidraru
Romania’s Hidroelectrica has launched the international public tender for the refurbishment of the hydro-power plant Vidraru. The estimated value of the project is EUR 78.98 million (without VAT), to which can be added maximum EUR 1.75 million of unanticipated expenses. The largest energy producer in Romania said it its statement, published by Romanian media, that the […]
Romanian and Croatian governments announce IPO of state power utilities
Romanian and Croatian governments have announced plans to initiate IPOs of their state-owned power utilities, Hidroelectrica and Hrvatska elektroprivreda (HEP) respectively. The Croatian government plans to initiate the sale of more than 25 percent of HEP shares through the Initial Public Offer (IPO). The HEP shares will be offered to citizens, institutional investors, and employees, […]
Bogdan Nicolae Badea appointed new general manager of Romanian Hidroelectrica
Former State Secretary at the Romanian Ministry of Energy Bogdan Nicolae Badea has been appointed a director of state-owned power producer Hidroelectrica. Badea was appointed manager of the Management Board by the Supervisory Board in the beginning of July. Two new members of the executive board were also appointed: Marian Bratu, former manager of the […]
Romanian Hidroelectrica not insolvent, IPO to follow soon
Hidroelectrica, Romania’s largest power producer is officially solvent, as stated in the final court decision. This move will enable stock-market trade with Hidroeletrica’s shares. Court’s decision is final, and it will unblock Initial Public Offer (IPO) sale of 15% of company’s share. Remus Borza from Euro Insol, court appointed administrator of Hidroelectrica, expects that this share […]
Romanian Hidroelectrica sees healthy profits, plans investments
Hidroelectrica SA has some bold plans for the coming years, as the state-owned hydropower company returned from the brink of bankruptcy to become one of the most profitable companies in Romania. The company has plans to invest over EUR 500 million into modernisation in the next five years. The president of the Board of Directors […]
Hidroelectrica exits insolvency, preparing IPO
The biggest privatisation in Romania’s history is underway after the main court in Bucharest ruled Hidroelectrica SA isn’t insolvent anymore, Act Media reported. The company will be listed when the best conditions for pricing are achieved, minister of energy Victor Georgescu said at a press conference on June 24. Hidroelectrica will focus on modernization, investments […]
Overhaul underway for two large hydropower plants
State-controlled electricity producer Hidroelectrica SA asked its shareholders for approval to start refurbishing the power plant at Mărişelu in Cluj county. Romania’s largest power producer earlier also announced the tender for the refurbishing of the Vidraru power plant. The latter investment is estimated at EUR 80 million, said Remus Borza, the company’s judicial administrator, according […]
Hidroelectrica begins procedure for exchange listing
Six months out of insolvency, largest national power producer may be listed at the stock market, Energynomics.ro said. Károly Borbély, Hidroelectrica’s head of strategy and corporate affairs, said the preparations already begun. „It will be possible six months after we come out of insolvency, most likely in the fall of 2016 or early 2017,“ Romanian […]