“We target an installed capacity of 10 to 20 MW that would add consistency to our energy trading activity,” Eletromagnetica’s chief executive Eugen Scheusan told Mediafax.
Electromagnetica operates 10 micro hydropower plants which it purchased from Hidroelectrica in exchange for EUR5.6 million. Micro hydropower plants typically produce up to 10 MW.
Hidroelectrica sold 14 of its 160 micro-hydro facilities in July for EUR10.6 million and will put up for sale more units in September.
Earlier this year, Electromagnetica announced plans to invest up to EUR10 million in new micro hydropower plants or in upgrading existing ones.