Romania fails to provide its share for big energy project

The Romanian Government has started talks with five Chinese joint ventures to build the Tarnita hydro-power plant, but it has problems in increasing its share in the project company. This company was founded in 2013 and has two shareholders, namely the Romanian electricity distributor Electrica and energy company Complexul Energetic Hunedoara. The state should have increased the company’s capital by EUR 17 million last year by issuing new shares to other state energy companies, but the process failed, reports local Mediafax. The hydropower plant, which is estimated at about EUR 1.1 billion, should be built on a public-private partnership, where the state has a 51% share and the private investor a 49% share. editor@romania-insider.com