Romanian hydropower group Hidroelectrica (BVB: H2O) has launched a new tender procedure for the refurbishment works at Vidraru hydropower plant (220MW) with a starting price of EUR 189 million (plus VAT), 30% higher than the indicative price set in the previous attempt launched in 2023.

In total, Hidroelectrica launched six tender procedures for the Vidraru hydropower plant over the past eight years, but the first five failed.

The company said that it discussed with potential bidders to identify the causes of the failures in the past and eliminate them from the tender book. 

Furthermore, extensive market research was carried out to obtain a correct estimate of the value of the works in a period characterized by increased volatility, but also to align the contractual clauses with international practice to accommodate bids from both Romanian and international contractors.

"We know that it is an extremely complex project, with a high degree of uncertainty and risks, but it is of utmost importance and priority both for Hidroelectrica and the national energy system. We are confident that these changes that the new directorate will undertake will lead to the successful award of the contract and the effective completion of the works," said Karoly Borbely, CEO of Hidroelectrica, Profit.ro reported.

iulian@romania-insider.com

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