Bloomberg News

Hidroelectrica Sets Hydropower Investment Plans for 2012

November 23, 2011

(Updates with description of company in first paragraph, background on planned 2012 share sale in last paragraph.)

Nov. 23 (Bloomberg) -- Hidroelectrica SA, Romania’s state- owned hydropower generator, plans to invest about 1.25 billion lei next year in new hydropower plants and upgrade existing ones, chief executive officer Constantin Trihenea said.

The planned investments compare with plans for 1.4 billion lei into projects for 2011.

Hidroelectrica is willing to keep a majority stake in the project to build a new 1,000 megawatt hydropower plant called Tarnita-Lapustesti, depending on the interest of other investors, Trihenea said at a presentation today in Bucharest.

Romania plans to build this plant through a public-private partnership and the value of the investment is estimated at 1.2 billion euros. The state is preparing to sell some shares in Hidroelectrica next year.

--Editors: Douglas Lytle, James M. Gomez

To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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