The loan is one of the largest granted to a local company in this time of crisis. “Of the €300 million that we were to take out from EBRD for the modernization of the 3 and 6 groups, we will only take €170 million, for the 6 group alone, that is now off, and whose rehabilitation is a top priority,” officials added. The redrafting of the loan was due to the current financial crisis.
Of the €170 mln loan, EBRD will cover about half of its own fund, while the remainder will be syndicated by the international financial institution. “The loan is granted in specific conditions, meaning we have to meet certain financial indicators,” the representatives of the electricity producer said, without providing any further details.
CE Turceni’s net profit plunged almost fivefold in the first six months of this year, to 18 million (€4.2 mln), compared to RON 87 mln (€23.7 mln) in last year’s first half, mainly due to a drop in sales, and the setup of provisions for CO2 emission certificates.
