OREANDA-NEWS. January 16, 2015. Foreign capital enterprise Gaz Natural Fenosa Furnizare Energie was established as a spin-off of Moldova’s largest power distribution company RED Union Fenosa, ANRE says.

The reorganization of RED Union Fenosa took place to meet the requirements of Art 54 of the Law on Electric Power, which demands that power distribution and power supply at regulated tariffs be legally separated. As a result of the reorganization, Gaz Natural Fenosa Furnizare Energie has been established and delegated to all the rights and duties concerning power supply at regulated tariffs to the extent of the value and volume of the assets and liabilities the company has received from RED Union Fenosa.
The conditions of the electricity supply licence granted by ANRE to Gaz Natural Fenosa Furnizare Energie have been adjusted to the new provisions of the Law on Electric Power. Founded solely by Union Fenosa Internacional (Mardid, Spain), Gaz Natural Fenosa Furnizare Energie was registered in the State Register of Legal Entities of Moldova on January 1, 2015.