Hidroelectrica (stock symbol: H2O), Romania’s most profitable state-owned company in the energy sector, aims to strengthen its presence in the local market through investments in renewable energy and projects and equipment to support the efficient operation of its assets.
“We are exploring opportunities for business growth, focusing primarily on domestic ventures. Given the immense development potential within our borders, we believe it’s prudent to concentrate our efforts here and solidify our position in the local market. This allows us to invest in renewables, leveraging Romania’s rich potential for renewable energy production, particularly in hydroelectricity, which offers significant investment prospects. We also remain open to exploring opportunities in international markets if compelling prospects arise,” stated Karoly Borbely, CEO of Hidroelectrica, at the ZF Capital Market Summit 2024.
Borbely highlighted the company’s current challenge of integrating the acquisition of UCM Reşiţa with Hidroserv, a maintenance services company.
“Our investments in hydroconstruction and hydroelectric equipment largely depend on companies capable of carrying out such activities. However, the number of such companies in the market has decreased recently. We are striving to maximize investments in our energy equipment and extend their lifespan,” he added.
