CEZ Buys Hydropower Company in Western Romania

BUCHAREST (Romania), January 6 (SeeNews) – Czech power group CEZ has acquired via its Romanian unit a 100% stake in TMK Hydroenergy Power, which operates a hydropower system in Romania, CEZ said on Thursday.

The financial details of the deal were not disclosed.

The newly acquired Romanian company consists of four resevoirs with dams – Trei Ape, Gozna, Valiug, Secu and four small hydro power plants – Crainicel I, Crainicel II, Grebla and Breazova, CEZ said in a statement.

Their combined installed capacity is approximately 18 megawatts (MW). The installed capacity of each hydro unit is under 10 MW.

The hydropower system is located in the western county of Caras Severin.

This acquisition is in line with CEZ policy to focus on its core business in countries with existing operations and in addition it is in the area of semi-regulated renewable generation, the statement said.

Currently CEZ operates 240 MW of installed capacity in the first stage of its wind farm project in the Romanian county Dobrogea. After its completion the wind farm will reach 600 MW of installed capacity and will be the largest onshore wind park in Europe, the company added.

Earlier this week CEZ said it has sold its 9.15% stake in EnergoNuclear, the project company for the construction of a second pair of reactors at Romania's sole nuclear power plant Cernavoda, to the Romanian state.

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