CEZ Group approved the sale of its assets in Romania to the funds managed by Macquarie Infrastructure and Real Assets (MIRA), the company announced in a statement sent to AGERPRES on Friday.
According to the source, the assets consist of seven companies, including the electricity distribution network, electricity supply and the largest onshore wind farm in Europe from Fantanele - Cogealac (southeast, Constanta County, ed. n.).
The transaction documents were signed on Thursday night, and the conclusion of the transaction will be subject to the approval of the European Antitrust Authority and the Supreme Council of National Defense of Romania.
"CEZ remains active in Romania, developing its portfolio of energy services. The sale of CEZ assets in Romania to the funds managed by MIRA was approved by the CEZ Group Council only 13 months after the start of the sale process. CEZ Group and MIRA have reached a sales agreement that covers all 3 business segments included in the transaction: electricity distribution, energy supply and renewable energy operational portfolio. The 7 companies targeted by the transaction are: Distributie Energie Oltenia, Ovidiu Development, Tomis Team, MW Team Invest, CEZ Vanzare, TMK Hydroenergy Power and CEZ Romania. CEZ Group remains active in Romania, focusing on the activity of energy trading (CEZ Trade) and energy services (High-Tech Climate)," reads the release.
CEZ Group in Romania is represented by nine companies: Distributie Energie Oltenia, CEZ Romania, CEZ Vanzare, CEZ Trade, CEZ ESCO Romania, Tomis Team, MW Invest, Ovidiu Development and TMK Hydroenergy Power and is present on the Romanian market since 2005, with the taking over of the electricity distribution company Electrica Oltenia SA.
CEZ Vanzare is the main electricity supplier in southwestern Romania, but also a natural gas supplier, with a portfolio of domestic and industrial customers that exceeds 1.4 million customers.
CEZ Group also owns in Romania the largest onshore wind farm in Europe, in the Dobrogea area, at Fantanele, Cogealac and Gradina. The wind farm involved an investment of 1.1 billion euros and contains 240 wind turbines with a total installed capacity of 600 MW. The entire capacity of the CEZ Wind Farms was put into operation at the end of 2012. At the same time, starting with 2011, the CEZ Group in Romania has in its portfolio the hydropower system near weatern Resita, Caras-Severin County, consisting of 4 micro hydropower plants and the related hydro facilities from Trei Ape, Gozna, Valiug and Secu.