Hidroserv’s Board of Directors may ask the insolvency of Hidrosev today, according to market sources.
Board of Directors of Hidroserv, maintenance and service subsidiary Hidroelectrica could decide in Tuesday’s session upon request regarding company’s insolvency, said sources in the energy sector. “On the agenda of the sitting Board of Hidroserv is going into insolvency. Hidroserv got into this situation because the maintenance works at Hidroelectrica were very few in recent years, respectively during the period when it was insolvent,” the sources quoted by Agerpres said.
According to them, the insolvency of Hidroelectrica’s maintenance unit Hidroserv will affect activity in the coming years, as it will no longer have any local firm to perform repair works on power units.
“Hidroelectrica is dependent of Hidroserv, but when you want to do short-term profit you stop thinking about it. Death of Hidroserv will mean that there will be not anyone to repair the hydro aggregates,” the sources said.
Contacted, Remus Borza, the former insolvency administrator of Hidroelectrica, showed that every year, the maintenance subsidiary have been allocated works worth more money than it could execute.
“I’m not able to express views on the Hidroserv. Every year, during insolvency, Hidroserv had higher budget allocations worth Euor 5-10 million as compared to the accomplished works. I mean, every year I gave money more money than the works they have done. Hidroserv should have had entered the default in tandem with Hidroelectrica in 2012, and today would been both big girls and dowry,”said Borza, refusing to offer details.
At the same time, according to data held by Agerpres, the amount of maintenance works in the Annual Programme of Hidroserv in the first half of the year is worth 84.7 million lei and the amount of works done is 57.1 million lei, so that there is an unrealized program for the first six months of the year of approximately 33%. Most works are completed in category “diverse and unforseen” and the fewest are in the category of scheduled hydro.