Australian investment fund MIRA (Macquarie Infrastructure and Real Assets), which last year bought the Romanian operations of the Czech group CEZ for RON 4.7 bln (nearly EUR 1 bln), reportedly seeks to sell the energy supply arm CEZ Vânzare, according to unconfirmed information circulated among those familiar with the market.

"Our focus is now on maintaining the continuity of the electricity supply business in the best possible terms, given the current state of the energy market, for the benefit of all our customers," MIRA commented.

"The current state of the energy market" means financial pressures generated by the 'cap and subsidy' schemes enforced by the Government.

According to the latest available data, only 30% of the disbursements owed to energy suppliers under the scheme, meant to support the capped end-user prices, have been disbursed so far.

A final decision on the sale of CEZ Vanzare has not yet been made, but, according to the sources quoted by Economica.net, MIRA would be ready to sell it for EUR 15 mln.

The investment fund is particularly interested in keeping the distribution network (currently operated by Oltenia Energy Distribution) and the renewable energy generation capacities (Fântânele Cogealac wind farm and Caraș-Severin micro-hydropower plants).

CEZ Vânzare has about 1.4 mln domestic and commercial customers.

(Photo: Radovan Cmokon/ Dreamstime)

andrei@romania-insider.com