The EUR30 million loan had been successively extended between 2009 and 2013, because the company did not have enough funds to pay back the loan by its maturity date.
Hidroelectrica has paid back several loans this year totaling RON231 million: RON31 million to ING Bank, RON80 million to Alpha Bank, and RON120 million to Banca Transilvania. In April, Hidroelectrica paid back early an investment loan of EUR110 million granted by the European Bank for Reconstruction and Development and in June, it paid back a loan of EUR75 million to Citibank International.
State-owned Hidroelectrica entered insolvency again in February this year, after going through the procedure between June 2010 and June 2013.
Hidroelectrica has an installed capacity of 6,400 MW, covering about one third of Romania’s electricity production and consumption. The company is 80.05% owned by the state and 19.95% by investment fund Fondul Proprietatea.