Construction works on the Rastolnita hydropower plant began in 1989 and are close to completion, as per a draft government decision drawn up by the Energy Department.
Investments were reevaluated in 2011 at RON1.16 billion (EUR258.9 million) and are entirely financed from Hidroelectrica’s own resources.
According to the draft decision, the hydropower plant is expected to boost electricity production by 117.5 gigawatt hours per year and to increase installed capacity by 35.2 megawatts.
Hidrolectrica has 80.05% of its shares in the hand of the Energy Department, while investment fund Fondul Proprietatea (FP. RO) holds a 19.94% stake. The company runs units with a total installed capacity of 6,400 megawatts and covers around 30% of Romania’s power consumption.
Romania plans to sell 15% in the hydropower company and considers a dual listing, in Bucharest and in London. End-January, the country selected a consortium comprising local brokerage Raiffeisen Capital&Investment and U.S. bank Morgan Stanley to assist with the sale. (EUR1=RON4.4905)