Hidroelectrica eyes CEZ, Enel assets in Romania, sets aside EUR 10 mln for advisor

Romanian hydropower group Hidroelectrica, controlled by the state (80%) and having Fondul Proprietatea as significant shareholder (20%), has officially announced that it wants to buy assets put up for sale by Italian group Enel and Czech group CEZ in Romania.

The company is looking to purchase consultancy services for these potential deals, for which it is ready to pay EUR 10 million, Ziarul Financiar reported. The call for bids was published on Friday, August 30, on the public procurement portal.

Hidroelectrica, the most profitable energy producer in Romania, has significant financial resources and the ability to attract loans to buy other energy assets.

Enel and CEZ both have electricity distribution and supply operations in Romania and own some of the largest wind farms in the country.

Enel initiated the sale of its operations in Romania in 2014, but then decided to postpone the deal. This year, news emerged again about the Italian group’s intention to sell minority stakes in its Romanian subsidiaries.

Czech state-owned group CEZ is also preparing to sell its operations in Romania and other markets in the region.

(Photo: Hidroelectrica Facebook Page)