S.P.E.E.H. Hidroelectrica S.A. signed today, May 21, 2026, the contract for the refurbishment of the Râul Mare Retezat Hydropower Plant, a strategic project aimed at modernizing and increasing the efficiency of the company's generation capacities, with a total value of EUR 188,496,099.76, excluding VAT.
"We are talking about a system power plant, built to cover peak demand and to ensure the stability and balancing of the National Power System. We are investing in the refurbishment of a profitable power plant. We want the Râul Mare-Retezat plant to reach the position it deserves," emphasized Hidroelectrica CEO Bogdan Badea.
The procurement procedure was initiated through the publication of the tender documentation in SEAP on September 22, 2025, with the deadline for submission of bids set for December 10, 2025. The contract value was initially estimated at EUR 193,347,753, excluding VAT.
Following the evaluation process, the contract was awarded to the consortium formed by Andritz Hydro GmbH (partner) and COBRA INSTALACIONES Y SERVICIOS S.A. (consortium leader), together with subcontractors LAS PROM S.R.L., GD Mașini de Ridicat, Compania de Consultanță în Energie și Mediu S.A., Electric Total S.R.L., ARIS Engineering S.R.L., and Electromontaj Carpați S.A. The awarded contract value is EUR 188,496,099.76, excluding VAT. The procedure report was approved on April 28, 2026.
Although the plant has an installed capacity of 335 MW, since commissioning it has operated, for technical reasons, at approximately 200 MW, with restrictions generated by the limitations of the existing equipment. Through the refurbishment project, an additional approximately 135 MW of realistically available capacity will be recovered and integrated into operation, significantly contributing to increased generation capacity, improved system services provided to the National Power System, and strengthened energy security for Romania.
The investment aims to prepare the plant for a new operational life cycle by replacing the main electromechanical equipment and implementing modern technological solutions. The project includes the installation of new vertical Francis turbines, modernization of generators, excitation and automation systems, full integration into SCADA systems, and rehabilitation of the associated electrical and civil infrastructure. At the same time, modern security, monitoring, and fire protection systems will be implemented.
The refurbishment aims to recover capacity and increase energy efficiency, improve the reliability and availability of installations, reduce operating costs, and maintain the plant's strategic role within the National Power System. The new equipment will enable safe and high-performance operation, in line with current technological standards and the flexibility requirements of the energy market.
"The objective is for Hidroelectrica, its shareholders, and the National Power System to benefit from the best possible results. It is a large-scale project that will engage local workforce, know-how, and expertise from our partners, so that we achieve the best results in terms of operational efficiency, costs, and the use of water resources, which are becoming increasingly valuable," stated Bogdan Badea, Chairman of the Executive Board of Hidroelectrica.
The project is part of the company's broader investment program aimed at modernizing hydroelectric infrastructure, increasing efficiency, and aligning with current technological standards. Through such investments, Hidroelectrica contributes to strengthening Romania's energy security and to the development of a sustainable energy system.
Hidroelectrica remains committed to responsibly investing in the development and modernization of its capacities, while ensuring operational and financial performance for all shareholders.