Finances

CZECH INVESTORS INTEND TO IMPLEMENT PROJECTS IN ELECTRICITY PRODUCTION IN MOLDOVA

11 december, 2019

Prime Minister Ion Chicu received a group of Czech investors, who recently bought the electricity distribution company Gas Natural Fenosa - the supplier of power to three-fourths of consumers in Moldova.

According to the Government, guests informed that they decided to invest in Moldova, given its profitable geographic position and intend to implement in the republic the projects, connected with the electricity production.

According to them, due to these projects, Moldova can raise its energy security and lower the dependence on the foreign sources.

The premier welcomed the arrival of the Czech business to the Moldovan market, telling them about priorities and goals of the new Government.

"Your investment in Moldova is a strong message for other potential investors. The Government will do its best to create maximally attractive conditions for business", he promised.

Before, it was said that on December 11, the Moldova's largest electricity company Gas Natural Fenosa will officially change its name to "Premier Energy". This is due to the fact that its holder - the Spanish energy company Naturgy sold its electricity supplying and distribution business in Moldova to the holding EMMA Capital Group, owned by the Czech billionaire Jiri Smejc and the London trans-national company Duet Private Equity.

In August, the EMMA Capital Group informed that their joint enterprise has concluded the buying of the RED Union Fenosa and the Gas Natural Fenosa Furnizare Energie. The EMMA Capital Group is holding 69% of the common enterprise. Its shareholders agreed on the common approach to administrating the two new companies.

The Czech billionaire's holding includes the Romanian namesake company - Premier Energy, which is engaged in electricity supplying in the neighboring country.

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