The company plans to invest RON1.7 billion this year, nearly nine times more than last year, according to the company’s budget plan subject to shareholders’ approval on June 10.
The company expects to invest the bulk of its budget, RON1.3 billion, in acquisitions of new renewable energy capabilities.
Hidroelectrica plans to acquire on-shore wind power capabilities with an installed power of 300 MW – 500 MW and solar power capabilities with an installed power of 50 MW – 100MW. The company wants to allocate RON3.8 billion for these projects in the period 2021-2023.
The company expects total spending in 2021 will amount to RON2.8 billion, 29% more than in 2020, mainly due to the doubling of expenses with goods and services.
Fondul Proprietatea (FP.RO), which owns 20% in Hidroelectrica, asses its stake at approximately RON5.2 billion. This means a valuation of RON26 billion for the entire company, higher compared with its RON23.5 billion valuation in September 2020.