CET Govora filed for insolvency – Romania, 5 May 2016

The largest electricity producer in Valcea County, CET Govora has filed for insolvency in court. Electricity and thermal energy producer (CET) Govora is supplying district heating to several cities in South-central Romania.
The company has outstanding debt of some 200 million euros to Energy Compex (EC) Oltenia for the coal delivered until July 2014. On the other hand, the company has receivables from Oltchim petrochemical complex in the amount of 30.5 million euros.

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