January 20 (SeeNews) - Romania's Hidroelectrica said it will ask its shareholders to approve investment projects worth a total 1.09 billion lei ($239 million/ 221 million euro) for the upgrade of several hydropower plants (HPPs).
Hidroelectrica plans to invest 770.6 million lei to refurbish the Raul Mare-Retezat HPP, according to documents published by the hydropower producer earlier this week.
The HPP was commissioned in 1986 and because of malfunctions, it is operating at 60% of production capacity, or 200MW. The refurbishment project is a top priority in Hidroelectrica's 2022-2024 Business Plan, the documents indicated.
As much as 264 million lei will be invested to commission hydro aggregate No 1 and auxiliary installations at the Portile de Fier II HPP, while 52.5 million lei will be used for the modernization of hydro aggregate No. 2 at the Slatina hydropower complex. An exact investment timeline is not provided for these two projects, but both are included in the company's 36 billion lei 2020-2025 Strategic Investment Plan announced in May 2020.
Shareholders will be called to vote on the projects at a meeting scheduled for February 16.
(1 euro=4.9255 lei)
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