December 1 (SeeNews) - Croatian electrical equipment manufacturer Koncar Elektroindustrija [ZSE:KOEI] said on Thursday it has signed an agreement with Greek Public Power Corporation (PPC) for revitalisation of the Messochora hydropower plant in western Greece, which has equipment delivered and installed by Koncar two decades ago.
Phase one will include testing and analysis of all plant equipment, along with preparatory activities for the commissioning of the plant, Koncar said in a statement, without dicslosing the value of the deal.
You can download the 2024 Renewable energy in Southeast Europe report here
The power plant has 2×90 MVA installed capacity, and back in 1996 Koncar was awarded a turnkey agreement to provide it with electromechanical equipment. The project was carried out in the period from 1996 to 2002, with Koncar successfully completing the agreement, delivering and installing all the equipment within the contractual terms and conditions.
However, PPC had faced certain administrative issues which prevented it from filling up the reservoir with the water necessary for testing, and ultimately it was unable to commission the plant. Therefore, in agreement with PPC, the equipment was subsequently handed over and preserved so that the project could be continued once the necessary conditions are created.
Since the Greek partner wants to commission the plant with as much originally manufactured equipment as possible, it is evident that this is an “exceptional technological and engineering challenge”, Koncar said. Some of the installed equipment has undergone several technological updates. With regards to this, original members of Koncar’s teams from the initial phase of the plant construction will participate in the revitalisation of the Messochora project.
Koncar's shares closed 0.60% lower at 825 kuna ($114/109 euro) on the Zagreb bourse on Wednesday. They did not trade on Thursday morning.
(1 euro = 7.548 Croatian kuna)