Romanian state companies Hidroelectrica, Electrica plan to share CEZ assets

State-controlled Hidroelectrica, the largest electricity producer in Romania, is reportedly interested in taking over the wind farms that Czech group CEZ owns in Romania, while the electricity distribution and supply group Electrica, in which the state holds a 49% stake, is looking at the distribution assets that CEZ has put up for sale, according to unofficial sources quoted by Ziarul Financiar daily.

Hidroelectrica shareholders will decide on December 12 whether to go ahead with hiring a consultant for this process after the management proposed to earmark EUR 10 million for services related to the potential takeover.

The list of investors who intend to bid for CEZ assets in Romania include investors from China, Portugal, but most of them are investment funds. ZF sources claim that there could be as many as 20 bidders for the CEZ assets.

CEZ is one of the largest investors in the Romanian wind power generation sector, with its wind farms located in southeastern part of Romania, about 20 kilometers from the Black Sea coast. The group operates the largest onshore wind farm in Europe, an investment of about EUR 1.1 billion. The CEZ wind farm comprises 240 turbines with a total installed power of 600 MW.

CEZ also owns the electricity distribution company in Romania’s Oltenia region and an electricity supply company that serves mainly the same region.

(Photo source: Facebook/CEZ Romania)