Hidroelectrica has concluded a consulting contract with Ernst & Young, worth 955,000 lei, to be assisted in the purchase of some assets of UCM Resita, according to the data published by the energy producer, quoted by e-nergia.ro.

The contract refers to “due-diligence consulting services and evaluation of the assets of UCM Resita SA, which will be taken over and used in maintenance and modernization activities”, according to Hidroelectrica data. It has a value of 955,720 lei, and was signed on March 16, and has a duration of 12 months.

UCM Resita, a traditional manufacturer of energy equipment, has been in a difficult situation for a long time, and is now insolvent. However, it is one of Hidroelectrica’s main partners for maintenance works and the management of the energy producer announced last autumn that it would be interested in taking over some assets of UCMR, in order to do the works “in house”.

“We want certain sections from UCMR, for maintenance, we did a technical due diligence, to see what we need, now we start the selection of consultants. We take the assets we need from there,” previously said the president of the Hidroelectrica’s Directorate, Bogdan Badea.