Business

CEZ kicks off Romanian divestment

Czech utility company CEZ has initiated the process of divestment of its Romanian assets, and is considering the sale of seven companies (Energy Distribution Oltenia, Ovidiu Development, Tomis Team, MW Team Invest, CEZ Vanzare, TMK Hydroenergy Power and CEZ Romania).

The divestment of the Romanian companies is in line with CEZ Group’s new strategy that envisages the gradual sale of assets in Bulgaria, Romania, Turkey and partly also in Poland, with the exception of companies focused on the field of modern energy services (ESCO), which CEZ wants to develop further both at home and abroad.

CEZ is so far one of the leading integrated energy companies in Romania. Its assets include one of the largest distribution companies in the country, Europe’s largest on-shore wind park at Fantanele-Cogealac, a modernised hydroelectric system at Reşita (consisting of four dam reservoirs and four small hydroelectric power stations) and electricity and gas sales to end customers.

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