Popescu said at the ZF Power Summit 2020 conference the government has received a letter of intent from EBRD, interested n a 5% stake, which would boost the company’s value.
The government plans to list a stake in Hidroelectrica on the stock market this year and the company is currently seeking and selecting its advisers for the initial public offering.
Hidroelectrica posted a turnover of RON3.3 billion in the first nine months of 2019 and a net profit of RON1.3 billion. Fondul Proprietatea, which owns 20% in the power producer, assess its stake at around EUR4.14 billion, which places the company’s value at around RON20.6 billion.
Hidroelectrica is looking to acquire the local wind power capabilities Czech utility group CEZ in a bid to diversify its renewable energy production sources. Company CEO Bogdan Badea said Monday capital raised via an IPO would help with this investment.