Hidroserv, a subsidiary of Hidroelectrica, managed to fully pay the receivables registered in the company’s credit table, respectively: guaranteed receivables, wage receivables, budgetary receivables and indispensable supplier receivables, through the early distribution of the amounts related to the last quarters from the “Definitive Table”, Hidroelectrica announced.

The payment of the claims was carried out in accordance with the provisions of the extended and modified reorganization plan, confirmed by the syndic judge.

“This achievement represents the most important stage in the implementation process of the reorganization plan, as it was modified and extended, which creates the real premises for the reinsertion of Hidroserv in the economic and business activity and, in turn, allows the continuation of the strategy of the company’s management to repositions the company as a leader on the market of services specific to the maintenance activity at the level of the national hydropower system,” say company officials.

“Hidroelectrica welcomes the success of Hidroserv and is committed to further supporting the company, so that it continues its process of reinsertion into business activity, relying on competitiveness, seriousness and the quality of services,” said Bogdan Badea, the president of the Hidroelectrica directorate.

“It is a company that I found insolvent when I took over the mandate, and today’s success shows that the path we have taken is a positive one. The real recovery is all the more important as the service company is vital for Hidroelectrica’s activity and I want, in the context of the debt settlement announcement, to illustrate the importance of Hidroserv for our company by recalling that recently Hidroserv marked the completion of the modernization works on hydro unit 1 of CHE Slatina, succeeding where other service providers have failed.”