Romania's largest electricity producer Hidroelectrica, which is still under insolvency, will hold an auction in February to sell 33 of its 128 micro hydro installations, at a starting price of EUR 18.8 million, according to the company's judicial administrator.

"We want to keep 23 small hydro plants and refurbish them," said Remus Borza, head of Euro Insol, Hidroelectrica's judicial administrator, cited by local Mediafax.

The 33 installations that will be put up for sale in February have a total installed capacity of 26 MW and are located in Suceava, Bacau, Neamt, Hunedoara, Maramures, Brasov, Timisoara, Sibiu, Arges, Buzau and Valcea counties.

Hidroelectrica also sold some micro hydro power plants in September 2014, Borza said.

The company entered insolvency in February 2014 for the second time in less than a year. It underwent its first restructuring process between June 2012 and June 2013.

editor@romania-insider.com