Hidroelectrica signs its first major modernization contract

Hidroelectrica, the largest energy producer in Romania, is launching the company's most important modernization project so far, the investment of EUR 188 million in the Vidraru hydropower development. The works will last 7 years.

The winner of the EUR 188 million contract is Electromontaj, in partnership with Konar Engineering Ltd.

"It is an honor to announce that, after 12 years, we are signing the first refurbishment contract at an electricity production plant. Running this contract will be a challenge for everyone. The success of the listing is proof of Hidroelectrica's progress. The most important objective of my mandate is the development of investment projects in the core assets of the company's business, thus significantly extending the life of equipment for the production of green energy. The renovation works will last seven years," said Karoly Borbely, CEO of Hidroelectrica.