“All projects will move forward,” said Remus Borza, general manager of Euro Insol.
However, Hidroelectrica’s projects will be revised so they leave out any component that doesn’t pertain solely to the energy sector, Borza said.
Earlier August, Euro Insol said Hidroelectrica was forced to invest around 930 million lei (EUR207.2 million) in side projects which hurt the company’s finances.
Hidrolectrica, Romania’s largest power producer, has filed for insolvency earlier this year and is currently undergoing reorganization.
The company has its shares in the hands of the state. (EUR1=RON4.487)