Turceni Energy Complex, the largest energy generating facility in the Oltenia basin (SW Romania), has revised its 2009 turnover forecasts downwards, with the company expecting a 3% turnover decline for 2009 compared with last year, after the facility initially expected an almost 12% rise.
At the end of December, the company expected an 11.6% turnover growth rate, to 1.223 billion RON (305.75 million euros), compared with 1.096 billion RON (298 million euros) forecast for the end of last year.
"Given the current situation of the economy, we anticipate an about 3% decline in turnover. It is difficult to estimate what the profit will amount to, because it will depend on costs entailed by trading CO2 certificates. One does not know how their price will evolve on the various markets," say CE Turceni representatives.
The reduction of growth forecasts is also based on the trend of energy deliveries in the first two months of this year.
"Compared with the first two months of 2008, energy deliveries in the system fell by around 10%, following the reduced consumption in the context of the current recession. Over the course of the year, energy sales at CE Turceni will be proportionate to the market demand, correlated with the offer of the other generating companies," add company representatives.
The quoted sources say the energy company has a 500 million-RON (125 million-euro) investment budget prepared for this year, with part of this sum to be allocated for the environmental programmes that the company has to carry out in order to comply with EU standards.
"So far, CE Turceni has been the most advanced company in terms of implementation of the environmental programmes, having stuck to its original deadlines," add company representatives.
CE Turceni has since as early as last year been in talks with the European Bank for Reconstruction and Development (EBRD) in order to attract a 300 million-euro loan to cover the environmental projects that the company has to conduct.
"The loan requested from the EBRD in view of rehabilitating generators 3 and 6 is currently being negotiated," company officials say.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
