CEZ weighs up the sale of a stake in Fantanele-Cogealac wind park

CEZ considers the sale of a minority stake in the Fantanele-Cogealac wind farm in Romania, according to Reuters. The investment of 1.1 billion euro is the largest land-based wind park in Europe, having an installed capacity of 600 MW. The Czech utility representatives have not detailed the reasons underlying this step, still, the recent changes in the Romania’s renewable energy sector regulation which relates to both a cut of the quota of green certificates granted to power producers and a reduction of the amount of green energy industrial clients are compelled to buy raise concerns among foreign investors.

Many pension funds are interested in acquiring a stake in the wind power project, said yesterday a CEZ board member, as per the newswire. Following Adrian Borotea’s , Corporate Affairs Director at Romania’s unit, statement, earlier this week, that put the possibility of selling the wind farm under analysis at headquarter level, Tomas Pleskac, in charge with the company’s foreign operations, stated that they “are certainly prepared to sell (even a 100 percent stake)”. Pleskac further added there is no pressure to arrange such a transaction, yet, in case of any attractive opportunities, a good offer cannot be turned down.

CEZ is the leading developer of wind power projects in Romania, also investing in the hydro power sector. The Czech group entered the Romanian market when took over Electrica Oltenia distribution company, apart from these fields, CEZ operates in the supply sector as well.