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Czech energy giant CEZ bids for Albanian power distributor

Mohit Joshi 29 September 2008

Prague - Czech power company CEZ said Monday it has made a bid for a 76-per-cent stake in the Albanian power distributor OSSH.

The distributor annually supplies 5.3 terawatt hours to nearly 1 million customers in Albania, a formerly communist country in south- eastern Europe plagued by spotty power supplies.

State-controlled CEZ, the Czech Republic's most profitable company, has been on an investment spree across the former Eastern Bloc in recent years.

CEZ bought energy firms in Bulgaria, Romania and Poland as well as a 7-per-cent stake in Hungary's MOL.

CEZ and MOL formed a joint venture to build gas-fired power plants. (dpa)

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Czech Republic