“We want to expand our financing pool. Launching a public offering on the stock exchange is one option, but we are also considering a bond issue that would enable us to attract EUR200-EUR300 million over a period of five years,” Zachia told an energy seminar organized by Ziarul Financiar.
Zachia said Hidrolectrica would use the money to finance its projects. The company plans to develop 10 energy projects with a total installed capacity of 300 MW by 2015. Overall costs are estimated at EUR470 million.
Hidrolectrica is 80%-owned by the Economy Ministry, while investment fund Fondul Proprietatea (FP.RO) holds the reminder stake. The ministry plans to launch a public offering of 10% in the company by the end of October. (EUR1=RON4.348)