The auctions for the micro power plants with a total installed capacity of 25.7 MW will be organized between November 23 and 26. The plants, structured in 22 packages, are located in the counties of Suceava, Brasov, Hunedoara, Neamt, Sibiu, Valcea, Maramures, Arad, Arges, Buzau, Timis, Vrancea and Bacau.
Hidroelectrica sold only two of the 34 micro hydropower plants auctioned off in July for which it cashed nearly RON4 million. The first of the two power plants, Calugarita, located in Arges county, was bought by Arges and Muscel Archiepiscopate, for RON1.7 million. The second plant, Vladesti, located in Valcea county, was bought by Roski Air Service, for RON2.2 million.
So far, the company has sold 28 micro hydropower plants, for RON79.6 million (EUR18 million).
Hidroelectrica posted a record profit of RON725 million in the first half of the year, 42% higher than in the same period in 2014, when its earnings stood at RON510 million. Hidroelectrica had a turnover of RON1.851 billion in the first six months, from RON1.554 billion in the same period last year, due to higher power output, of 9.6 TWh, 1.1 TWh more than in the first half of 2014.
By June 20, 2015, the company had paid RON3.817 billion of its RON4.313 billion debt to creditors. The remainder represents installments on loans and credit lines due by September 2021.
Hidroelectrica is controlled by the state through the Ministry of Energy and has been insolvent since early 2014.