Ambassador Kathleen Kavalec at the Hidroelectrica IPO Listing at the National Bank of Romania

July 12, 2023

Good afternoon,  
Prime Minister Ciolacu, 
Minister Burduja, 
Mr. Marinescu,  
Mr. Badea,
Friends, Guests,  
Ladies and Gentlemen.  

Bună ziua. What an honor it is join you at this historic event, the opening of the Hidroelectrica IPO on the Bucharest Stock Exchange.
Hidroelectrica is not only Romania’s largest electricity producer, but also one of the most efficient and profitable companies in Europe, with a strong focus on renewable energy and sustainable development.
We have closely followed the recent developments of Hidroelectrica’s listing given its strategic importance for Romania’s capital markets and the region.
The listing is a key development for the Romanian financial markets as it will increase liquidity, diversify the investor base, and enhance market confidence.
It is also an important milestone. This listing is a result of the Romanian government’s efforts and reforms over the past 10 years.
This confirms Romania’s commitment to the National Resilience and Recovery Plan, which aims to boost economic growth, create jobs, and improve public services.
The success of this IPO is also a testament to the attractiveness of Hidroelectrica as an investment opportunity, and to the potential of Romania’s energy sector.

Hidroelectrica has a unique competitive advantage, namely that it operates over 200 hydropower plants across the country, with a total installed capacity of over 6,000 MW.
Hydropower is a clean, renewable, and reliable source of energy which contributes to Romania’s energy security and independence, as well as to its climate goals.
Hidroelectrica is also a leader in innovation and digitalization, constantly investing in modernizing its assets and improving its operational efficiency.
The U.S. Government and private sector have been long-standing partners of Romania in the energy field, and we are proud to see that many important American investors participated in this IPO.
We believe that foreign investors can play a vital role in contributing to the economic growth and development of Romania, by bringing capital, know-how, and best practices.

We congratulate Hidroelectrica, Fondul Proprietatea, the Romanian government, and all the parties involved in this IPO for their remarkable achievement.
We also commend the Bucharest Stock Exchange for hosting this landmark transaction, which sets a record for the Romanian capital market.
We look forward to seeing Hidroelectrica continue its successful journey as a listed company, and we hope that this IPO will inspire more Romanian companies to follow suit and access the capital market.

Thank you și mult succes!