Romania's Hidroelectrica could record the best result in its history this year

State-owned energy producer Hidroelectrica, which is still under insolvency, could record a gross profit of RON 1.3 billion (EUR 290 million) this year, the best results in its history. Last year, the company posted a gross profit of EUR 245 million. Hidroelectrica could exit insolvency in June this year and could be listed on the Bucharest stock exchange in fall, said Remus Borza, the manager of the producer’s judicial administrator Euro Insol, reports local Wall-street.ro. The company’s market value is at least EUR 5 billion. The Energy Minister Victor Grigorescu, however, doesn’t share this optimism. “It’s hard to say when Hidroelectrica could be listed,” he said. The Energy Ministry owns 80% of Hidroelectrica’s shares while local fund Fondul Proprietatea has the remaining 20%. editor@romania-insider.com