Romanian state-controlled energy company Hidroelectrica (BVB: H2O) will invest EUR 100 million and will contract works worth another EUR 100 million during 2024-2028 with the machinery producer UCM Resita after it purchased it and renamed it UCMH.

UCM Resita produced the related equipment for over 80% of the national hydropower system, putting into operation over 6,325 MW of installed power, which represents 326 hydropower groups.

On March 11, 2024, the contract for the sale of the UCMR business to UCMH, a newly established company whose sole partner is the state company Hidroelectrica, the largest electricity producer in the country, was signed.

"Here at UCMH, the oldest industrial unit [in Romania], founded in 1771, 1,461 steam locomotives, including marine engines, and last but not least, more than 300 hydro-generators were manufactured. I would like to thank people for being patient during the 13 years of insolvency. Hidroelectrica means a new beginning," said Hidroelectrica CEO Karoly Borbely, quoted by Economica.net.

iulian@romania-insider.com

(Photo source: Inquam Photos/Octav Ganea)