A year earlier, the group’s sales in Romania stood at CZK10.1 billion.
CEZ said operating profit before taxes from production and trading operations in Romania quadrupled to CZK1.2 billion in 2011, on higher wind farm production in Fantanele and increased revenue from green certificates trading.
However, the increase was partly offset by lower revenue from distribution and sale operations. The division contributed CZK1.7 billion (EUR68 million) to the group’s EBITDA in 2011, down from CZK2.4 billion in the previous year.
The Czech group invested CZK4.9 billion (EUR196 million) in wind projects in Romania last year and CZK1.4 billion (EUR56 million) in its local distribution network.
Renewable energy production in Romania reached 0.6 TWh in 2011, up 151% on the year. For 2012, output is estimated to rise 70% to 1.1 TWh.
CEZ runs several companies in Romania, namely CEZ Romania SA, CEZ Vânzare SA, CEZ Trade SRL, MW Team Invest, Ovidiu Development, TMK Hydroenergy Power and Tomis Team.