BUSINESS

Hidroelectrica enters solar and wind power segment

Hidroelectrica is entering the solar and wind power segment, ordering several feasibility studies in this sense, and is set to simultaneously start building several hydropower plants. “We ordered several feasibility studies, in 2013 we will prioritize only the investments that qualify for green certificates,” Remus Borza, head of Euro Insol, Hidroelectrica’s trustee in bankruptcy, stated for Mediafax. He added that next year the company wants to start building seven hydropower plants, projects estimated at approximately EUR 200 M, as well as two solar power parks and several wind power units that will cost EUR 50-100 M. One of the solar power parks will be located in Tudor Vladimirescu locality, Braila County, the cost of the feasibility study being estimated at RON 220,000, VAT not included. The construction of hydropower plants was included in Hidroelectrica’s development strategy that also includes a series of projects that have a low energy component, the representative of the trustee in bankruptcy stated. Asked about the evolution of financial results this year, Borza stated that Hidroelectrica will close 2013 with losses of RON 300 M and revenues of up to RON 2.3 bln, below the budgeted level of RON 3.1 bln, mainly because of the drought.

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