Romania's Hidroelectrica gets EUR 32 mln loan from RBS to cover work capital

RBS Romania has granted a EUR 32 million loan to state-owned company Hidroelectrica to cover the cost of work capital. The loan will be paid back in maximum a year, the bank has announced. RBS approved bilateral financial packages of EUR 100 million for companies in the energy sector in Romania in the last three months alone, according to Sanda Abrudan, director energy and resources with RBS Romania.

Hidroelectrica is the biggest energy producer in Romania and runs over 270 hydro power plants with a total installed capacity of 6,438 MW. The company is also on the list of state-run companies that will have private management, according to the country's pledge to the International Monetary Fund. Royal Bank of Scotland (RBS) Romania posted a profit of EUR 35.6 million last year, according to data from the bank. editor@romania-insider.com (photo source: RBS)