June 11 (SeeNews) - Croatian electrical equipment manufacturer Koncar Elektroindustrija [ZSE:KOEI] said on Tuesday that its unit Koncar – Engineering signed a 14.2 million euro ($15.2 million) deal to deliver equipment and carry out works on the reconstruction of the Velebit pumped-storage hydro power plant with the Croatian Transmission System Operator, HOPS.
The reconstruction will enhance the plant's performance, improving the integration and dispatch of power from existing and future renewable energy facilities, Koncar said in a filing to the Zagreb bourse.
You can download the 2024 Renewable energy in Southeast Europe report here
The power plant is located in the lower reaches of the Zrmanja river, near the town of Obrovac. It was commissioned in 1984 and was among the largest pumped storage hydro power plants in Europe at the time.
Koncar’s shares traded flat at 260 euro on Tuesday afternoon on the Zagreb bourse.
($ = 0.923 euro)