Romania: Hidroelectrica ambitious investment cycle until 2020, SEE Energy News
Romanian hydropower company Hidroelectrica announced investment cycle 2020 including new hydro projects and modernization of existing HPPs. In addition company plans expansion into RES thru new acquisitions.
Hidroelectrica plans the investment cycle of 1.3 billion euro in the 2015-2020 period, including to an expansion of its capacity via new projects and acquisitions.
Some 405 million euro are earmarked for hydro projects that are currently underway, Hidroelectrica said in a statement.
Another 305 million euro will be spent on upgrading existing hydropower plants, 240 million euro will go for maintenance works and 300 million are put aside for acquisitions of power plants fuelled by renewable sources, including wind, solar and biomass plants, it added.
Hidroelectrica booked a profit of 170 million euro in the first half of the year, when it reduced its debts to less than 110 million euro from some 1.2 billion euro in 2012. It targets a profit of more than 300 million euro this year and an output of over 18 terrawatt-hous (TWh).
State-controlled Hidroelectrica operates more than 200 hydropower plants with a combined installed capacity of over 6,400 MW. , transmits Serbia-energy.eu