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CEZ's Romanian wind park attracts funds' interest - board member
April 3, 2014 / 2:25 PM / in 4 years

CEZ's Romanian wind park attracts funds' interest - board member

PRAGUE, April 3 (Reuters) - More than one pension fund has shown interest in a stake in Czech utility CEZ’s 1.1 billion euro ($1.5 billion) wind park in southeastern Romania, a CEZ board member said on Thursday.

Foreign investors have expressed concern over recent cuts in incentives for renewable power in Romania, which in March capped the amount of renewable energy industrial clients must buy this year to stave off the threat of job cuts before elections.

Tomas Pleskac, who oversees foreign operations of central Europe’s biggest utility, said the company was yet to decide what size of stake to sell or whether to sell any at all and that the stake may sell irrespective of regulatory uncertainty.

“We are certainly prepared to sell (even a 100 percent stake),” Pleskac told reporters.

“You do not turn down good offers,” he said. “We do not have any strict timeline, we do not have to sell. This is a possibility, if it turns out to be attractive to us, we will use it, if it is not attractive, we will not.”

CEZ runs the Fantanelle and Cogealac facility with capacity of 600 MW, making it Europe’s largest land-based wind farm and CEZ the leading private investor in Romania’s wind energy sector. It also operates a local power distributor. (Reporting by Jan Lopatka; Editing by Louise Ireland)

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