EBRD wants 5-10% in Romania’s Hidroelectrica before planned IPO

Romania’s Government has received a letter of intent from the European Bank for Reconstruction and Development (EBRD), which reportedly wants “to be part of the listing” of state-owned hydropower producer Hidroelectrica.

The EBRD would actually be interested in taking over a 5-10% stake in the company as part of the pre-listing process, economy and energy minister Virgil Popescu disclosed at an energy conference, Wall-street.ro reported.

He did not detail on whether the “pre-listing” would be a competitive process to which more investors would be invited. However, this pre-listing “would raise the value of the company,” minister Popescu reasoned.

Hidroelectrica is “a jewel”, because it produces green energy [actually big hydro is not included in the RES-E national targets set under the European Union’s decarbonisation plans] and bringing it together with EBRD “would be a win,” minister Popescu stated.

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