An investment budget of EUR 1.3 billion for 2015-2020 has been set by power producer Hidroelectrica, Romania-insider.com portal reported.
About EUR 450 million are for the ongoing projects in Racoviţa, Bretea, Răstoliţa, Siriu-Surduc, Dumitra-Bumbeşti. Hidroelectrica will also invest EUR 350 million to refurbish four high capacity hydropower plants, namely Stejaru, Vidraru, Râul Mare – Retezat and Mărişelu.
For the refurbishment of the Dimitrie Leonida – Stejaru hydroelectric plant, Hidroelectrica has launched an auction in December last year, which the joint venture of Romelectro SA – Litostroj Power DOO won. The contract is worth EUR 75 million (without VAT). The project will run for 7 years and involves the refurbishment of six hydropower units.
Hidroelectrica will also invest EUR 300 million in new production plants from renewable energy sources, according to its investment plan.