Romania: Hidroelectrica takes over CEZ or Verbund wind parks

Hidroelectrica have expressed interest to acquire wind farm from CEZ or Verbund. Hidroelectrica has the money and wants to invest in renewables. A budget of 300 million euro was allocated for such investments, despite the fact the shareholders have voted against.

There have been meetings between representatives of the companies concerned, Hidroelectrica having prepared bids, but no negotiations have been held, both CEZ, especially Verbund wishing to sell at this time, according to sources close to the three companies.
Strategy to identify and analyze investment opportunities in the renewables has not been approved by the shareholders of Hidroelectrica, which is why steps of acquisition and / or implementation of new production from other renewables were halted.
One of the most important investors in renewable energy – Verbund is present in Romania with wind turbines in the Rahman-Casimcea County. Tulcea. Company representatives have announced – officially – they have plans to sell, even if last year was closed with losses, registering the same situation this year. Verbund in Romania decreased revenues due to market authorities’ interventions in massive surplus green certificates and certificates.
Instead, Czechs from CEZ announced their intention to sell all or a minority shareholding owned wind park in Romania, at Fantanele and Cogealac, but – in the meantime – changed their minds. Zmelik Martin, general manager of CEZ Romania, recently said that CEZ does not run an active process of sale of the wind farm, no longer interest to actively seek a buyer market, the focus on strengthening the work. The company official admitted that if someone approaches them to talk, is a business principle to accept, but for the moment is not in talks to sell. CEZ’s wind projects have a capacity of 600 MW, are controlled by two companies, Tomis Team, which is administered by 347.5 MW Fantanele Park, and Ovidiu Development, which manages the park Cogealac of 252.2 MW. CEZ owned wind parks in Romania, at Fantanele and Cogealac are rated by the Czech group at 1.1 billion euros.

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