Romania's largest electricity producer Hidroelectrica, still insolvent, sold at the end of March only 3 of the 33 small hydro power plants auctioned off.

It sold them for EUR 1.1 million, the equivalent of the starting price.

Targu-Mures-based company Three Pharm bought one of the plants for EUR 317,000, whereas the Italian firm Geo Service Italia acquired the two others for EUR 816,000, reports local Wall-street.ro.

The 33 units up for sale have an installed capacity of 26 MW and benefit from the support scheme through green certificates. Hidroelectrica hoped to get EUR 19.2 million by selling all the plants.

The company also owns 120 other small hydro power plants, with an installed capacity of up to 4 MW each.

editor@romania-insider.com