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EBRD and E.ON sign partnership in Romania’s energy sector
The EBRD has signed an agreement to acquire 9.8 per cent stakes in two
Romanian energy holding companies, which are majority-owned by Germany’s E.ON
Group, a leading global private sector energy company.
Through this transaction EBRD shall have an indirect five per cent stake in
E.ON Gaz Romania, a gas distribution company supplying northern Romania. It
shall also have an indirect five per cent stake in E.ON Moldova, an
electricity distribution company supplying north-eastern Romania.
The investment will support the E.ON Group’s strategy to strengthen operations
in Romania. It will also support the on-going privatisation, liberalisation
and modernisation of Romania’s power and gas sectors in line with the EU
directives on Power and Gas and assist the further development of the Energy
Community of SouthEastern Europe. The investment is also part of the EBRD’s
commitment to supporting Romania’s energy sector by working with the private
sector.
Nandita Parshad, EBRD Director for Power and Energy, said this project further
demonstrates the EBRD’s commitment to working with strong private investors in
the restructuring, privatisation and liberalisation of the energy sector. The
EBRD especially welcomes the opportunity to continue working with partners
like E.ON Ruhrgas and E.ON Energie, which are committed to developing the
energy sector in the region, said Mrs Parshad.
In June 2005 E.ON Ruhrgas, one of the leading gas companies in Europe,
acquired a 51 per cent stake in Distrigaz Nord (now re-named E.ON Gaz
Romania). In October 2005 E.ON Energie, one of the world’s large private
energy suppliers, acquired a 51 per cent stake in Electrica Moldova (now
re-organized in E.ON Moldova Distributie and E.ON Moldova Furnizare).
The overall strategy of E.ON Gaz Romania and E.ON Moldova will be to improve
technical and operational efficiency and service quality that will ultimately
benefit its customers, and to generate synergies between the gas and
electricity businesses.
E.ON Gaz Romania serves over 1.2 million consumers, selling annually over 4
billion cubic meter of gas. E.ON Moldova, supplies 1.3 million customers,
selling annually over 4.3 billion kWh electricity.
The EBRD is one of the largest investors in Romania, having committed nearly
€3.5 billion in more than 190 projects to-date.
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