The leading electricity producer in Romania, Hidroelectrica, took out a loan of RON 120 million or EUR 28 million from Banca Transilvania to finance its working capital. The deal was signed on October 14 and will see Hidroelectrica reimburse the loan within one year.
“The loan ensures the capabilities of our company to continue financing modernization programs and expenses for a good maintenance of the energy production capacities at Hidroelectrica”, stated Constantin Trihnea, General Director of Hidroelectrica.
In September, RBS Romania lent EUR 32 million to Hidroelectrica, for financing the working capital of the energy producer. This loan will also be reimbursed within one year.
Hidroelectrica is the main electricity producer in Romania, the main producer of energy system services and the main energy producer on the regulated market. The company manages over 270 hydroelectric plants and pumping stations, with power installations totaling 6438 MW and reported a gross profit of EUR 12.3 million and a net turnover of EUR 390.4 million in the first trimester of 2011.