CEZ ends 600MW Romania sale hunt

Czech utility CEZ has put on ice divestment plans for the 600MW Fantanele and Cogealac wind complex in Romania, telling Recharge it is no longer actively seeking a buyer or investor for the project.

The €1.1bn ($1.5bn) wind development in southeastern Romania is located on the shore of the Black Sea in the province of Dobrogea and is one of Europe's largest.

The utility was looking for potential investors in April, although the sale "would depend on the bid, and it could be some part of the wind park or some share in the project", it toldRecharge at the time.

The buyer hunt came after Romania cut state subsidies in the form of green certificates in half.

CEZ today confirmed it is "in talks with local authorities trying to find equilibrium in the current support plan for renewable energy," and is "not seeking any potential buyer actively".

The group also owns the electricity distribution company that powers seven counties in Southern Romania, which it bought from the state in 2005.