Romania plans to list Hidroelectrica by end 2020
The government of Romania has announced plans to list state-owned power producer Hidroelectrica on the stock exchange within a year. Hidroelectrica is the largest power generation company in Romania, with a hydropower capacity of 6.4 GW and a generation of 17 TWh in 2018.
The government has been planning for years to sell a stake in Hidroelectrica (80% held by the state and 20% by Fondul Proprietatea), without any progress so far. The IPO was initially planned in 2012 but was suspended as Hidroelectrica had to renegotiate or cancel bilateral contracts that expired between 2015 and 2018: the holders of cancelled contracts sued the company, which was forced into insolvency by a court ruling in 2014 (exit in June 2016).
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