The state asset management company (SAPE) wants to increase the share capital of Hidro Tarniţa by cash contribution so that the company continues to operate. To this end, it hired a consultant – the association of BDO Business Advisory SRL and SPRL Mocanu and Associates, according to Newsenergy.ro.

“At present, the European Commission’s notification procedure (on state aid) will be carried out, after its validation, the procedure for capital increase Hidro Tarniţa SA will be carried out by cash contribution of the majority shareholder, ie SAPE SA” say the SAPE representatives.

The Tarniţa – Lăpuşteşti pumped storage hydroelectric plant is mandatory for the stability of the national energy system, and Romania is the only country in Europe that does not have such a center, according to the study of the project’s foundation, conducted by the National Commission for Strategy and Prognosis.

In the substantiation study, CNSP estimates that the investment will amount to one billion euros for a capacity of 1,000 MW, and the PPP contract period will be of 30 years, of which five years of financial closure, design and execution.