Hidroenergetica needs 700 mln euros worth of investments

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The necessary investments evaluated up to the present for the companies that will be part of the national company Hidroelectrica amount to roughly 700 million euros, General Manager of Hidroelectrica hydroelectric power producer Mihai David said on Wednesday.

“ELCEN needs the amount of 300 – 350 million euros, Paroseni – 300 million euros and the National Coal Company needs approximately 50 million euros for the following two years”, said David.
Hidroelectrica general manager added that the required investments will be ensured by loans, for which the authorities intend to obtain state guarantees in the amount of 80 percent, by means of EximBank, Romania’s Export-Import Bank.

“We need the state’s guarantee, not in the amount of 100 percent, but the maximum of 80 percent, for the approval of which a Government Resolution is needed”, added David.
The Government at its last meeting approved the establishment of the two national energy companies to be named Electra and Hidroenergetica, a week after their creation was validated in this year’s first session of Romania’s Supreme Defence Council (CSAT).

According to the regulatory act, the first national company will be named Electra and will include in its structure the power plants in Turceni, Rovinari and Craiova with its branches Nuclearelectrica, the Hidroelectrica branches in Ramnicu Valcea, Sibiu and Targu Jiu, Hidroelectrica’s subsidiary Hidroserv and Oltenia Lignite National Company.

At the same time, the second national company, named Hidroenergetica will be established through the merger of Electrocentrale Deva and Electrocentrale Bucuresti branches of Termoelectrica and will include in its structure Paroseni branch and Termoserv Paroseni, Hidroelectrica branches in Bistrita, Buzau, Cluj, Curtea de Arges, Hateg, Portile de Fier, Oradea, Sebes and Slatina, as well as parts of the National Coal Company, which is being divided.

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