“We salute the decision of the shareholders to take Hidroelectrica public and we are fully prepared to carry out this decision. It is a natural step for a company the size of Hidroelectrica, a new phase we have been expecting for a long time,” said Bogdan Badea, chairman of Hidroelectrica’s board.
Hidroelectrica is the largest hydropower producer in Romania and the main provider of technology services required by Romania’s national energy system, therefore a vital company for a strategic sector, with an impact on national security.
It operates 209 power plants with a nameplate capacity of 6,482 MW, plus the 108 MW windfarm in Crucea.
The latest valuation by Fondul Proprietatea is RON45 billion (EUR9 billion) for the entire state-run company or 14 times Hidroelectrica’s 2021 net profit and seven times its revenue.
Hidroelectrica budgeted RON7.4 billion total revenue for 2022, an increase of 11% on 2021 and RON2.9 billion net profit, 8% lower than last year, when it stood at RON3.16 billion.
Its owners are Romania’s Energy Ministry (80%) and Fondul Proprietatea (20%).
(English version by Loredana Fratila-Cristescu)