Hidroelectrica analyzes the possibility of acquiring wind and photovoltaic parks in the country, as well as other energy companies outside the borders, Bogdan Badea, general manager of the company said on Monday.
The company announced a net profit of 1.36 billion lei for 2017, the highest level in the company’s history.
“At national level, we look to buy wind and solar parks. We are in due diligence with several wind farms. We are interested in diversifying our sources of production and we look especially at green energy as it complements our portfolio. If we can save on water using other sources, it will be a plus. We also have storage capacity and we can make balances, “Badea explained.
He also said he was considering the possibility of acquiring other companies outside the country, according to Agerpres. “We are in the process of analyzing the market,” Badea said.
Regarding the IPO for 10% stake in the company, the general manager of Hidroelectrica was skeptical about proceeding this year. “The listing must happen, but it must be done after we have a well-developed development plan to know what to do with those money that will enter the company. Something different from how the listings have been made so far, only for the sake of listing. I can give many examples here, where there was no plan for using the money”, said Hidroelectrica official.
Badea announced that last year the energy producer achieved a net profit of 1.36 billion lei, the highest level in the history of the company. In 2016, the company’s net profit was 1.228 billion lei.
At the same time, in the first quarter of this year, Hidroelectrica had a net profit of 485 million lei, compared to 399 million lei in the same period in 2017, due to the improved hydrological situation.
The EBITDA margin rose from 67% in 2016 to 69% last year and 74% in the first quarter of this year. “This Winter was a time when we provided up to over 50% of the total energy consumed nationwide,” added Badea.
