Romania’s electricity carrier Transelectrica plans total investments of around EUR 560 million (some RON 2.5 billion) between 2014 and 2017, according to the company’s general manager Doru-Stefan Bucataru.

The main investments will be made in interconnections, revamping old stations and in the network for implementing renewable sources.

Transelectrica ended 2013 with a net profit of RON 201 million (EUR 45 million), almost six times higher compared to the previous year. For this year, the company has budgeted a gross profit of RON 118 million (over EUR 26 million), and a lower net profit of RON 96.6 million (some EUR 21 million).

For 2015, the company estimates a net profit of some RON 111 million (almost EUR 25 million), while for 2016 expects its profit to go up to RON 114 million (EUR 25.6 million).

Transelectrica proposes total dividends of RON 163.3 million (EUR 36.6 million) for 2013.

The Romanian state is the majority shareholder of the company, with 58.7 percent of its stock, while Fondul Proprietatea owns 13.5 percent.

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