The US AES Corporation, whose operations are spread over the energy markets of five continents, plans to enter the Romanian market next year, either in the field of electricity distribution or that of generation facilities, sources close to the American investment told Ziarul Financiar.
AES Corporation has set aside more than $1bn (770 million) euros for acquisitions in Europe, with Romania on the priority list, according to the quoted sources. AES did not comment on the issue.
The American company already has operations in 27 states in North America, the Caribbean, South America, Europe, Africa and Asia, and is currently going through a stage of expansion.
It expressed its interest in the Romanian market this year in the form of letters of interest for the privatisation of the major energy complexes in Oltenia: Turceni, Rovinari and Craiova.
Furthermore, the Americans also competed in the race for Electrica Oltenia and Moldova, two of the largest electricity distribution companies in Romania. AES was too slow to submit final bids for the two Electrica branches, which will now be acquired by Czech Republic's CEZ and Germany's E.ON.
In October, the American investor requested an extension of the deadline for submitting final bids for Electrica Oltenia and Moldova and announced it was ready to submit a bid by November 1. However, it was already too late, and the state denied its request.
AES Corporation did not let itself be disheartened and intends to enter the Romanian energy market at all costs, either by privatisations or by acquisitions, sources say, who added that one of the vice-presidents of the company had recently been to Bucharest to collect information on the opportunities available on the market.
On the other hand, the competition for the three energy-producing complexes put out for privatisation by the state is open.
For the Rovinari energy complex letters of interest were this year submitted by Calic Energy (Turkey), Washington Group Romania (US), Bechtel Power (US), Feral Tulcea (Romania), AES Corporation (US), Enel International Operations and Business Development (Italy), Atena SA (Greece), Public Power Corporation (Greece), as well as international financial institutions such as International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD).
Turceni received interest from Baterman Projects (Israel), Washington Group Romania, Bechtel Power, Feral Tulcea, AES Corporation, Enel International Operations and Business Development, Public Power Corporation, IFC and EBRD. While for the Craiova complex interest has been expressed by Bechtel Power, Feral Tulcea, AES Corporation, Enel International Operations and Business Development, Public Power Corporation SA, IFC and EBRD.
adrian.mirsanu@zf.ro
