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January 31, 2023

Hidroelectrica may come out of insolvency by December 31

Hidroelectrica may come out of insolvency by December 31 and the bankruptcy of the company would make ‘a monopoly’ on the energy system regulation service market disappear, the effect being ‘pitch dark’ in Romania, according to company judicial administrator Remus Borza, quoted by Mediafax. ‘It is in the in the interest of all the parties concerned – banks, politicians, employees, managers – at Hidroelectrica and even of the judicial administrator to close the procedure at the end of the year. It’s a difficult thing to do, I’m not saying impossible, but very difficult. (…) Hidroelectrica out of insolvency will not look anything like the current Hidrolectrica. It will be a company making a profit between EUR 80 and 100 M, a benchmark company,’ lawyer Remus Borza, the head of Euro Insol company that has been appointed as judicial administrator of Hidroelectrica.

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