Hidroelectrica inaugurates a 160 mln euro worth power plant

Almost 24 years after construction started, Hidroelectrica inaugurated yesterday the Racovita Hydroelectric Power Plant, although, it will be effectively operational as from the beginning of the next year, upon a testing period. It is the 27th power plant already inaugurated out of 30 other power production facilities included in the project concerning the hydro-energetic development on the Olt river.

The investment which was approved in 1989 has been completed eventually, amounting to some 162 million euro. With an installed capacity of 31.5 MW, it is designed to produce about 74 GWh ina common hydrological year. 

Prime Minister Victor Ponta, who attended the inauguration, saluted the completion of this investment and discussed again about the possibility of running Hidroelectrica’s IPO planned for 2014 both on the Bucharest Stock Exchange and on the London Stock Exchange.

‘The inauguration of this hydroelectric power station is a good sign for Hidroelectrica, but also for our industry. (...) Hidroelectrica is an enterprise we hope we will see listed on the London Stock Exchange the next year, likewise Romgaz this year. It would be the second Romanian company listed there, which is not an insignificant thing.’, Ponta said,quoted by Mediafax.

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