Romanian power producer Hidroelectrica, the most valuable state-owned company, is analyzing the opportunity of buying wind and solar parks in the country as well as other energy companies abroad, the company’s general manager Bogdan Badea said in a press conference on Monday, May 21.

“We are in due-diligence procedure with several wind parks. We are interested in diversifying production sources and we are mainly looking at green energy as it completes our portfolio. If we can save water by using other sources it will be a plus. We also have storage capacity and we can also do balancing,” Badea explained, cited by local Agerpres.

He added that the company was analyzing purchases abroad.

When asked about the company’s listing on the Bucharest Stock Exchange, the Hidroelectrica CEO said the company must first complete its development plan to know what it will do with the money drawn from the stock market.

Hidroelectrica recorded a net profit of RON 1.23 billion (EUR 264 million) in 2017, the highest in its history.

editor@romania-insider.com