“The situation at Complexul Energetic Hunedoara is not at all easy. (…) Insolvency may occur anytime, considering the large number of requests (for insolvency – e.n.) that have been submitted, but this should not be scary because we have all seen that insolvency yielded very good results for Hidroelectrica,” the minister explained.
He added the Institute for Energy Studies has been hired as consultant to work on a restructuring plan and find solutions to revive the company.
Complexul Energetic Hunedoara is facing serious liquidity problems due to losses amassed in 2013 and 2014.
CE Hunedoara holds approximately 5% of Romania’s electricity production and employs some 6,500 people.
The company was set up in 2012, through the merger of state-owned thermal power producers Deva and Paroseni, and produces electricity using coal.