Romania, Hidroelectrica has decided to abandon the plan for the acquisition of CEZ Vanzare

, SEE Energy News

According to unofficial sources, the largest Romanian electricity producer Hidroelectrica, in which the state controls 80 % stake, has decided to abandon the plan for the acquisition of CEZ Vanzare, an electricity supply subsidiary of CEZ Group, now owned by Macquarie Infrastructure and Real Assets (MIRA).

Among the reasons for the abandonment of the acquisition plan is the legislative instability in the energy market, which is rather odd, given the fact that Hidroelectrica is state-controlled company and the state is responsible for the legislation in the energy field in Romania.

In early October, the company’s shareholders have postponed the final decision on the acquisition of CEZ Vanzare.

Australian investment fund Macquarie Infrastructure and Real Assets (MIRA), which bought the Romanian assets of Czech energy company CEZ, said earlier this year that it is considering the sale of CAZ Vanzare, mainly due to financial pressures generated by the “cap and subsidy” schemes enforced by the Romanian Government. At the time of the acquisition in 2020, MIRA evaluated the supplier at 15 million euros.

error: Content is protected !!