Macquarie repatriates EUR 240 mln capital and retained earnings from its Romanian wind farm

Australian investment fund Macquarie has decided to repatriate over RON 1.2 billion (EUR 240 million) from the companies owned in Romania, according to Profit.ro.

It will reduce the capital of its Romanian companies by RON 800 million (EUR 160 million) and will distribute as dividends some RON 410 million (EUR 82 million) of retained earnings from 2022 and previous years.

"The reason for the reduction of the share capital is the existence of an excess of capital," according to the official documents of the two companies quoted by Profit.

The investment fund operates in Romania the wind farm at Cogealac and Fântânele in the eastern part of the country, which is the largest onshore facility of this type in Europe with a cumulative installed capacity of 600 MW. It took them over in 2020 from the Czech group CEZ through investment vehicles controlled by their asset management division, Macquarie Infrastructure and Real Assets (MIRA).

The two Romanian companies that operate the wind farms in Cogealac and Fântânele reported cumulative net profits of over RON 330 million for 2022, with total revenues of RON 1.73 billion.

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