The largest electricity producer in Eastern Europe, Czech CEZ is changing its focus from troublesome Southeastern Europe and shifts it towards Central and Western European markets.
After spending significant amount of funds on expansion in Southeastern Europe during last decade, CEZ is steadily scaling down its operation in this region. The company has already put up for sale its assets in Bulgaria, while acquiring several wind farms in Western Europe. CEZ CFO Martin Novak confirmed the shift in the company’s focus, adding that it now aims at renewables, definitely in Central and Western Europe, rather than in Southeastern Europe.
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Tags: Bulgaria, CEZ, electricity, electricity distribution, Region, Romania