BVB to privatize power plants

“We are hoping that once the companies are listed their sale can be made on the bourse, because according to the experience in other countries, a sale on the stock exchange gets the best results,” said Teodor Atanasiu, President of the Authority for State Assets Recovery (AVAS).

The Rovinari, Turceni and Craiova power plants meet one third of national electricity consumption. “We will probably list a 20-30 percent package of the shares on the bourse, and we then plan to sell the majority share package, which becomes much more attractive” said Atanasiu about the Craiova power plant. The company will use funds obtained through the sale of shares on the capital market to invest in the environment and technology, and increase its energy production capacity.