CEZ Risks Losing 200 Million Euros on Albania Investment
This article is for subscribers only.
CEZ AS, the largest Czech energy producer, risks losing as much as 200 million euros ($266 million) in Albania after a regulator revoked its license.
CEZ bought Albania’s power distributor in 2009 for 102 million euros and has invested 90 million to 100 million euros in repairs and expansion, Barbora Pulpanova, a spokeswoman for the Prague-based company, said by phone. The utility will seek to exercise a 60 million-euro guarantee from the World Bank that was negotiated before it entered the Balkan country, she said.