Insolvent state – owned Romanian company Hidroelectrica will sell, through public auction, 88 of its small hydropower plants, according to the company.

The sale was approved on March 13, 2013 during the company’s General Meeting of Shareholders and it will be done in stages, starting this June, “through transparent and competitive methods, securely meeting the Romanian law,” reads a statement of the company.

The 88 units have a combined installed capacity of 58 MW. Hidroelectrica operates hydropower plants with a total capacity of over 6,000 MW. The entire list of the small hydropower plants to be auctioned, here.

Hidroelectrica entered the insolvency process on June 20, 2012, in order to be re-organized. Euro Insol was appointed the judicial administrator.

Irina Popescu, irina.popescu@romania-insider.com