Hunedoara hydro project set to be launched in December


June 26, 2015





June 26, 2015




Hidroelectrica, the largest electricity producer in Romania, announced the opening of its hydroelectric power plant in Hunedoara for December.

The facility is on the Strei river in Transylvania and is presently 62% complete, portal reported. The EUR 58 million investment is for 12 MW of installed power capacity. Overall, the still insolvent state-owned company is planning to build up to seven hydroelectric power plants on the Strei river, which would require an estimated investment of EUR 420 million. Between 2012 and 2014 Hidroelectrica has invested over EUR 270 million in new power plants, according to company data.

The utility set an investment budget of EUR 1.3 billion for 2015–2020. Hidroelectrica went into insolvency in 2012 following a severe drought and several loss-making contracts which generated a combined loss of USD 1.4 billion. After it underwent a restructuring process the company turned to profit and exited insolvency in 2013, but was forced back into insolvency the following year at the request of contract holders. Following an in-depth investigation, the European Commission said in June that electricity supply contracts signed by Hidroelectrica did not involve state aid within the meaning of the EU rules.

Hidroelectrica recorded a profit of RON 725 million (EUR 161.9 million) from the first six months of this year, 42% more than in the corresponding period of last year. Turnover was also higher by almost EUR 67.77 million year on year. The increase was due to an output of 9.6 TWh, compared to 8.5 TWh in the same period last year.

Related Articles

Janom Investments expands Croatia 30 MW solar power project

Janom Investments expands to Croatia with 30 MW solar power project

01 March 2024 - The planned 30 MW solar power plant in the Slavonia area is the first project of janom Investments in Croatia.

European heat pump sales drop 2023 layoffs

European heat pump sales drop in 2023, resulting in layoffs

29 February 2024 - Heat pump sales tumbled 4.7% last year in 14 countries tracked by the European Heat Pump Association (EHPA)

BiH entities set establishment of power exchange as priority

BiH entities agree that establishing power exchange is priority

29 February 2024 - Energy ministers Petar Đokić from the Republic of Srpska and Vedran Lakić from the Federation of BiH have met in Banja Luka

OMV Petrom EU funding two green hydrogen plants

OMV Petrom obtains EU funding for two green hydrogen plants

29 February 2024 - OMV Petrom is stepping up its decarbonization efforts with projects for two green hydrogen production units at its Petrobrazi refinery