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Hidroelectrica denounced a contract with Paroseni, through which they lost 253.6 million lei in three years
Euro Insol, the administrator of the electricity producer Hidroelectrica denounced a procurement contract for energy from the Paroseni thermal power station, through which the company which is in bankruptcy lost 253.6 million lei ( 56.8 million euro) over the last three years.
Hidroelectrica signed the contract with the Paroseni thermal power station in 2008, for a period of ten years. According to Euro Insol, the aim of the agreement was to ensure the financial resources for the Paroseni thermal power station to give back a loan of 80 million euro.
Hidroelectrica has been in bankruptcy since the end of June.
Over the last two months Euro Insol denounced several contracts for energy sale, as they brought to Hidroelectrica losses of 1.1 billion euro between 2006 – 2012.Hidroelectrica is state-owned, through the ministry of economy.The Paroseni thermal power station is controlled by Termoelectrica, whose major shareholder is the ministry of economy.