May 10 (SeeNews) - Romania's majority state-owned hydropower producer Hidroelectrica [BSE:H2O] has received an environmental permit for the development of a floating solar photovoltaic (PV) plant with a capacity of 10 MW, local media reported.
The PV installation spanning 17 ha will be developed on a reservoir adjacent to the company's Ipotesti hydropower plant in the southern county of Olt, local news outlet Profit.ro reported on Thursday.
You can download the 2024 Renewable energy in Southeast Europe report here
Investment in the project is estimated at 16.7 million euro ($18 million).
Last month, Hidroelectrica launched a tender for the completion of the Nehoiasu II hydropower plant (HPP) in southern Romania with an estimated budget of 178 million lei ($38.1 million/35.8 million euro). Bidders will be able to submit offers until May 30, 2024.
Hidroelectrica booked a consolidated net profit of 6.337 billion lei in 2023, up by an annual 42%, on a revenue of 12.244 billion lei, it said in February.
The Romanian state holds an 80.06% stake in Hidroelectrica, with the remainder in free float on the BVB.
Hidroelectrica's shares traded 0.22% higher at 134.3 lei as at 1515 CET on Friday on the Bucharest bourse.
(1 euro=4.9756 lei)
Hidroelectrica SA is among the biggest companies in SEE. You can download our SEE Top 100 ranking
here or subscribe to our free Top 100 newsletter
here