By Jerom Bolt
More than 30 potential buyers have expressed interest in buying CEZ assets in Romania, the Czech group said on Tuesday.
In September this year, CEZ launched a market test on the process of transfer of assets from Romania, which include the wind farm in Dobrogea and the distribution company in Oltenia. Potential investors could express their interest both for the entire group of companies mentioned, and individually for any of the companies.
On Tuesday, CEZ revealed that the first stage of the sales process will end by evaluating the indicative offers sent by potential buyers by the end of this year. “After an evaluation of these bids, we expect that the bidding offers will be sent in the second quarter of the following year and afterwards an agreement will be signed with the winner of the auction. The completion of the transaction is expected in the first half of 2021,” informed the CEZ group .
CEZ Group in Romania is one of the main integrated utility leaders in Romania. This includes one of the largest distribution companies (1.4 million customer portfolio, 6,826 GWh of electricity delivered in 2018), the largest onshore wind farm in Europe located at Fântânele-Cogealac (installed capacity of 600 MW , production of 1,105 GWh in 2018), the hydroelectric system in Resita consisting of four storage lakes and four micro-hydroelectric plants (total capacity installed 22 MW, production of 83 GWh in 2018) and the supply of electricity and gas to final customers (sales of 3,425 GWh in 2018).
The process of transfer of assets from Romania is carried out in accordance with the new strategy of the parent company, approved in June this year. It provides for the gradual transfer of assets from Bulgaria, Romania, Turkey and partially and from Poland. Exceptions are the companies focused on the field of modern energy services (ESCO), which CEZ wants to develop further at home and abroad. CEZ Group entered the Romanian energy market in 2005, with the acquisition of a distribution company. Romanian assets generated positive EBITDA from the beginning and contribute to the dividends of CEZ Group.
By Jerom Bolt